Brite Payments Expands to UK with FCA Licence, Eyes AI Agent Commerce

Brite Payments specialises in instant account-to-account transfers, commonly called Pay by Bank. The company processes both checkout payments and payouts for online merchants operating in European markets.

The firm bypasses traditional card networks by plugging directly into local banking systems through its proprietary infrastructure, Brite IPN. This approach delivers faster settlement, lower transaction fees, and eliminates chargeback exposure for merchants. Brite describes its platform as a sovereignty play, offering Europe a home-grown alternative to non-EU payment rails.

The Stockholm-based company reached profitability ahead of its $60M Series A round in 2023. That capital fuelled rapid market entry across multiple European jurisdictions, with the UK being the most recent addition.

Hackelöer said the focus for coming years will be extracting value from that footprint rather than chasing fresh territory. "The coming years will focus on benefiting from that market expansion while prioritising profitability," she told Electronic Payments International.

Brite's newly minted FCA electronic money institution licence unlocks UK market access. Hackelöer said existing European clients had been requesting a single solution that works seamlessly across the Channel.

The company plans to pursue merchants in six verticals where instant settlement and payout speed matter most:

• Financial services
• E-commerce
• Travel
• Utilities
• Gaming
• Charities

Hackelöer declined to specify how many UK merchants Brite aims to sign in the next 12 months.

The open banking and account-to-account payment sector has seen significant consolidation, with a handful of dominant platforms emerging. Brite positions its proprietary Brite IPN network as the core differentiator — it routes and reconciles funds without third-party intermediaries.

The platform completes payments in under 30 seconds and logs 99% uptime alongside a 95% customer satisfaction score. Hackelöer acknowledged that speed alone isn't enough. "Anyone can build a fast product," she said. "Customer care matters just as much."

As autonomous AI agents begin executing purchases on behalf of consumers, the question of consent takes on new urgency. Hackelöer noted that every Brite transaction already requires the customer to authenticate through their bank's standard identification method, ensuring consent is explicit.

The uncertainty lies in how that consent can be safely delegated to an AI agent — and who bears the liability when the agent makes a mistake. "Those questions need clear rules from regulators and industry," Hackelöer said. "Payment providers will need to work closely with both."

Electronic Payments International also asked about hiring targets for the year and whether the company had set an IPO timeline. As a private firm, Brite declined to share either data point.