Brite Payments partners with Shopware on Pay by Bank

29 Apr 2024

Brite Payments has formed a partnership with ecommerce platform Shopware, with a view to bringing the benefits of Open Banking-powered instant payments to businesses across Europe in the form of an “easy-to-integrate” solution.

As a result of the partnership, Shopware merchants will be able to easily activate Pay by Bank, enabling their customers to pay instantly and directly from their bank accounts, facilitated by the Brite Instant Payments Network (Brite IPN), which leverages Europe’s Open Banking infrastructure.

This offering provides Shopware merchants with a “complete, out-of-the-box solution” that merchants can access via a compatible plugin.

Shopware’s platform serves more than 45,000 merchants and, combined, its merchants process approximately €22 billion in gross merchandise volume each year.

Germany-based Shopware is expanding across Benelux and the Nordic countries, while Brite has a complete product offering available in these markets.

Brite Payments chief commercial officer Luke Trayfoot

Alexey Pronin, general manager EMEA at Shopware, said: “Shopware is committed to giving merchants the variety of tools they need to succeed in the fast-changing world of online commerce – Brite Instant Payments is a powerful addition to that toolkit, representing a modern approach to Pay by Bank that puts customer experience at the forefront.”

“Open Banking-based payments offer huge potential, but we recognised early on that there was an appetite from merchants for more complete, easy-to-integrate solutions that reduce operational complexity as well as benefit their bottom line,” Luke Trayfoot, chief commercial officer at Brite Payments, added.

“Now, through our Shopware partnership, they have a simple way to activate Brite and see the impact on their business.”

Last week, Brite launched its instant payments offering in Germany as part of its European expansion.

Recent research by Brite and YouGov, published in March, found that 67% of Germans are already familiar with Pay by Bank or A2A payments, which is “significantly less” than in the Netherlands, UK, or Spain, but shows that awareness is growing.

Moreover, 40% of Germans indicate they are willing to try new forms of online payment.