Instant bank payments firm Brite Payments has announced it has become a patron member of The Payments Association.
The Swedish fintech will look to bring its instant account-to-account (A2A) payments and payouts offerings to fellow Payment Association members in a bid to increase industry collaboration and expand its product offering across Europe.
Brite Payments’ $60m funding round in October 2023 has enabled the company to bolster its presence across Europe and increase investment in Brite Instant Payments Network, the company’s proprietary network for processing instant payments.
Lena Hackelöer, Founder & CEO, Brite Payments, said: “The Payments Association EU brings our industry together and advocates strongly for its members – and for the broader payments ecosystem.
“As instant payments gain traction across Europe, we are looking forward to playing an active role in the Association and addressing common challenges together, as well as sharing best practices on navigating the evolving regulatory landscape – this is more important than ever with PSD3 and the PSR on the horizon.”
The Payments Association provides a forum for industry collaboration, where members can share best practices and work together to strengthen the broader payments sector.
By collaborating with The Payments Association, Brite aims to support the Associations’ “secure, efficient, and innovative payment solution” goals.
Thibault de Barsy, Vice-Chairman & General Manager, The Payments Association EU, added: “Instant payments are shaking up the status quo in European payments and emerging as one of the most promising use cases for the open banking framework.
“Brite Payments are championing this emerging category of payments and we are thrilled to welcome them to The Payments Association EU.”