The annual awards celebrate excellence in the retail sector, with a strong focus on technology innovation.

Brite’s solution, which leverages open banking technology to process account-to-account (A2A) payments in real-time between consumers and online merchants, was also a finalist in the Alternative Payments Solution category.

“We are honoured to receive this recognition from the Retail Systems Awards, which highlights the benefits that our instant A2A payments bring to merchants,” said Philippe Rousseau, Head of Benelux, Brite Payments. “Retail payments continue to suffer from inefficiencies that cost businesses time and money – with our approach to open banking-based instant payments, we make it possible for merchants to securely receive and send money in seconds, while also achieving operational cost-savings.”

Open banking payments are gaining traction across Europe as businesses in a growing number of sectors recognise the benefits from an operational and cost perspective, while valuing the seamless payments experience they offer end users. Brite Instant Payments leverages direct connections to bank APIs to let consumers pay instantly from their bank using only top-of-mind information. With no need for registration, app downloads, or additional passwords, Brite reduces checkout friction and eliminates redirects.

“Open banking payments have enormous untapped potential, but merchants need easy-to-integrate products that deliver real and immediate value. We have been building our next-generation proprietary payments system since Brite was founded in 2019, and this recognition from Retail Systems validates our approach as well as the versatility of our solution,” concluded Rousseau.