SOFORT and BritePayments Launch European Instant Payout Partnership

SOFORT, Europe’s market leader for online bank transfers, has announced a unique open banking partnership with the instant payment provider, Brite Payments. Launching in July 2022, the new partnership will see SOFORT’s bank transfer product complemented by Brite Payments’ instant payout solution. Following the launch, merchants using the SOFORT platform will be able to opt for the service and activate Brite Payments’ innovative instant payout solution without additional technical effort, allowing them to disburse funds to consumers within seconds. The joint solution, entitled ‘SOFORT Instant Payouts powered by BRITE’, lets merchants facilitate instant payouts through their existing SOFORT Bank Transfer integration. This means there is no need for labor-intensive integrations, enabling a quicker ‘go to market’. Brite Payments will still offer its standalone instant payments service to businesses apart from the SOFORT platform. Since its inception, SOFORT’s online banking-based payment method, also known as Sofortüberweisung in Germany, has been used for more than one billion transactions and boasts more than 85 million users. Many of these customers can now request a payout via their online platform and receive funds immediately. Brite Payments, as part of the partnership will send funds to the same account that SOFORT used to make the initial payment. This is a one-click solution. The partnership was discussed by Lena Hackelöer, CEO and founder of Brite Payments shared: “We’re all very excited to launch our joint solution across some of the continent’s leading markets, where SOFORT is a highly popular payment solution with online shoppers. Their prominence makes them an ideal partner. Our instant payout technology and our joint solution can provide both merchants and consumers a very simple solution. Instant payments are the future of payments and together with SOFORT we want to finally anchor this technology in everyday life.” Wilko Klaassen, Managing Director Sofort GmbH commented: “We are very proud to offer our SOFORT users instant payouts in a manner that complements our existing direct bank transfer product, by establishing this unique partnership with Brite Payments. Instant payouts is a service for which we have seen a great need in the market for some time, and we are pleased to have found a solution as efficient and innovative as Brite’s.This additional service ‘SOFORT Instant Payouts powered by BRITE’ is offering our partners and users the speed and convenience required within the e-commerce space.” Please visit this website for more information about Brite Payments or SOFORT. www.britepaymentgroup.comOr www.SOFORT.com