Sweden-based fintech Brite Payments has partnered with Northe, a one-stop electric vehicle (EV) charging platform, to provide customers with a simplified payment process.
Through this partnership, Northe aims to equip leasing companies with a simplified way to reimburse drivers for home EV charging, leveraging Brite Instant Payouts. This alliance also includes the use of Brite Data Solutions (Open Banking-enabled AIS – Account Information Services) to verify account holder information for reimbursements.
According to the official press release, many European countries are approaching a tipping point in the transition to EVs. However, significant infrastructure challenges remain, especially for businesses managing charging, payments, and reimbursements for commercial EV fleets. Rental car companies can also make EV rentals more attractive for customers by offering all-in-one charging and payment solutions – as illustrated by Northe's collaboration with Avis. As per Brite Payments, Nordic companies are tackling the challenges of EV transformation head-on, with a suite of solutions developed to facilitate the green transition.
In this market, Northe is a company that provides an all-in-one platform to manage everyday EV charging needs, as it is connected to an extensive public, semi-public, and private partner network. The Northe charging app enables private and business customers to access thousands of charging stations, connecting multiple operators and removing friction in payment and reimbursement. Moreover, the company intends to expand rapidly in other markets and offer services across many European countries.
With Brite, Northe will be able to provide companies with the tools they need to simplify the reimbursement process and give users a smooth charging experience. Commenting on this, Northen officials said that the company aims to solve the charging issues that many fleet operators and EV customers encounter, which threaten to hold back the transition away from fossil fuels to greener alternatives. Moreover, payment and reimbursement processes are critical factors in customer retention and satisfaction.
In response, Brite Payments said that the company is looking forward to supporting Northe's mission, starting with its Data and Instant Payout solutions, to make EV charging services simpler and more intuitive.
Sweden-based fintech Brite Payments leverages Open Banking to provide clients and businesses with a complete and efficient suite of instant, secure, and easy-to-use account-to-account (A2A) payments and payout solutions. No signup or credit card details are required as consumers authenticate themselves using their bank’s usual identification method. Moreover, Brite is connected to more than 3,800 banks.
In October 2023, the fintech secured USD 60 million in the funding round to accelerate instant bank payments across Europe. The capital is to be used for accelerating its overall geographic expansion development, as well as strengthening its presence in already existing markets. At the same time, Brite Payments will invest further in the process of optimising its product portfolio. The capital will also drive further development of the Brite Instant Payments Network, the company’s proprietary network that was developed to facilitate 24/7 instant processing 365 days a year.
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