Formed in 2019, Brite AB is a Swedish payment service provider headquartered in Stockholm. A market leader throughout Europe, Brite works in combination with over 3800 banks across 26 European markets to facilitate instant transfers using open banking technology. In addition, Brite can share approved, bank-verified data without compromising sensitive information.
As a Third Party Provider (TPP), Brite cannot see nor share sensitive information with a merchant. Payments are conducted by using your approved banking credentials behind your bank’s firewall and security systems. This makes Brite your window to secure, high-speed payments with automated services to add, such as client onboarding and account creation.
Products and Services
Brite provides two core services, Instant and Recurring Payments. Both use open banking technology to facilitate real-time transfers, allowing businesses and consumers to pay instantly. Instant payments are widely used by online merchants, but, in addition, Brite is also used to pay refunds, insurance claims, salaries, and loans, make transactions at financial exchanges and online casinos, as well as for a wide range of recurring payment applications.
Consumer payments are arranged through standard online banking approval methods, such as a one-time passcode, bank ID, login credentials, or fingerprint confirmation. The selected bank shields sensitive details from the process, which is confirmed by notification, making payments secure and safe. Only standard Know Your Customer (KYC) information can be shared upon request, such as name, address, date of birth, and government-issued ID number, etc.
Open Banking and Data Sharing
Open banking technologies enable instant Account-to-Account (A2A) payments. Brite provides A2A payments by linking with bank Application Programming Interfaces (APIs). An API allows third parties to integrate software applications and build products and services around them. Loosely summarised, the open banking framework is a collection of bank APIs and integrated programs.
In short, A2A payments happen almost instantly, as opposed to traditional systems which may require additional checking or authorisation. There are two kinds of A2A services provided by open banking technology when linking with bank APIs:
- Payment Initiation Service (PIS): This enables Brite to initiate transfers at the user’s request. The API checks and facilitates the transfer immediately following confirmation.
- Account Information Service (AIS): The AIS allows Brite to view selected account information. With AIS, Brite casinos automatically onboard customers and carry out verification checks at the same time.
Brite and Gaming
Sharing user data via open banking has streamlined gaming, and revolutionised online casinos for the better. Using open banking services, online casinos make payments faster and see increased player retention as a result. What’s more, automatic onboarding and verification services help to satisfy AML and KYC licencing requirements, while removing the manual process for players.
Swedish fintech company, Trustly, pioneered the change with its Pay N Play product. This led to the rise of Pay N Play casinos throughout Europe. Owing to its success, the term ‘Pay N Play Casino’ is now used to describe online casinos powered by open banking providers, such as Brite, as well as scores of alternatives like Klarna and Zimpler. With a significant contribution from the gaming sector, global A2A transactions in 2022 surpassed $525 billion, according to The 2023 Global Payments Report from FIS.
How To Use Brite
Brite works in harmony with your bank to make transfers using your online banking credentials. Completed in three basic steps, using Brite is simple:
- Choose Brite at the Online Cashier or Checkout
- Select your Bank and Sign-In
- Confirm Transfer
Once completed, funds are transferred and the user is returned to the site.
The Benefits of Pay N Play Casinos
Pay N Play Casinos, also known as Instant Pay Casinos, are highly sought after because of their ease of use, accelerated payments, and automated verification services. Pay N Play casinos safely capture identity and address information to create an account, allowing instant deposit and play. Upon returning to a Pay N Play casino, the service acts as your account login, enabling quick deposits and, pending casino approval, instant cashouts.
Online casinos are often measured on withdrawal speed and ease of use. Pay N Play Casinos remove the need for sign-up or registration, as well as standard KYC document requests. As a result, the casino can make good use of instant payouts having satisfied licencing requirements. On the whole, Pay N Play casinos make gaming easier and hassle-free with superfast banking on top.
Another good point is that there is no need to trust your debit or credit card details with an online casino for repeat transactions. With Pay N Play, payments are direct, from bank to bank and nothing in between barring the service provider. Owing to this, Pay N Play casinos are safe, secure, and a highly efficient and effortless way to play. After all, what could be easier than uninterrupted gaming with instant transfers?
Using Brite at Online Casinos
When visiting a Pay N Play casino for the first time, there is no need to choose Brite at the cashier. Instead, the casino home page serves as your window to deposit and play:
- Choose the amount to deposit
- Select your Bank and Sign-In
- Confirm Transfer
When making a withdrawal, choose Brite at the cashier and repeat the process. Providing the casino approves the withdrawal, funds are transferred at lightning speed.
In addition, some casinos provide a hybrid of services and you may find Brite offered without Pay N Play functionality. Those lucky enough to find a Brite Pay N Play casino can skip registration and dive straight into gaming. For the rest, hybrid casinos require account registration before heading to the cashier or payments page, where you may find the Brite logo. In this instance, Brite can be used for instant payouts. Note that Hybrid Casinos often require a manual account verification process.