Payment Method Brite and Why it is Gaining Popularity at Casinos in Finland

Online payments have become extremely popular over the years. Back in the start of the new millennium, most internet users were somewhat reluctant to pay anything online. For years, there was a debate about whether or not it would be safe to enter your credit card details online. Maybe at some point, this was indeed unsafe, but nowadays online security levels have definitely been taken up a notch. As long as you are careful and know what you are doing, no harm should come to you.

In this article, we take a deep dive into the world of online payments. More specifically, we talk about the somewhat new payment method Brite and its rise to the top of the fintech industry. Brite has become especially popular at Finnish online casinos, which is also something we will look into.

Brite history

When you first look at the name Brite, you might think nothing of it. However, after putting some thought into it, you will probably realize that the name is a pun on the English word “bright.” In other words, the payment method Brite is more or less supposed to be a bright spot in the fintech industry.

As the internet has become more popular, there has been a growing need and market for faster and more secure payments. Nowadays, online users do not only need to complete payments with their credit cards or debit cards, or even e-wallets such as Neteller and Skrill. Instead, many people, perhaps especially in Europe, opt to pay using their online banking systems.

Brite Payments was first founded in 2019 by an experienced payments executive Lena Hackelöer in Stockholm, Sweden. Prior to starting her own company, Hackelöer already had plenty of experience working with companies such as Klarna; another well-known name in the fintech business. Since 2019, Hackelöer has taken Brite to incredible heights.

What is Brite?

To put it simply, Brite is a payment system focused on fast online payments. With the help of a technology called bankID, Brite enables its users to have quick access to the funds that they have in their personal bank accounts. Perhaps the most revolutionary facet of Brite is that users are not required to register for any additional services in order to process payments. Instead, Brite simply works as a sort of middleman between the user and the retailer that they are shopping with.

Brite and Finnish online casinos

Brite has been gaining in popularity ever since it burst into the scene some 5 years ago. One of the most successful avenues for Brite’s business has been the online casino industry. In Finland, many people choose to play at online casinos listed on the britekasinot.io website. These casinos are all well-vetted and use Brite payments in order to make playing as easy as possible.

Most Brite casinos are also known for taking full advantage of the new bankID technology. With the help of this tech, casino customers can get immediate access to the games on any popular casino platform. In the world of online casinos, these kinds of casinos are known as pay n play casinos.

When choosing to play at a pay n play casino, the customer does not need to register an account. All they need to do is make their first deposit to the casino via Brite, and the casino will automatically get a glance of the player’s virtual identity documents. This way, the player does not have to enter any additional information about his or her name or address by hand.

Those worried for their personal information can rest easy at Brite casinos. Providing the casino with your information is always necessary regardless of what type of casino you are using, and the only difference is whether it is done automatically through Brite or manually by hand.

Brite and fast withdrawals

Although many casino customers enjoy the fast access to online casinos that Brite offers, this is still not the biggest advantage of using the modern payment system. Instead, Finnish casino players usually flock to Brite because of its often lightning-fast withdrawals.

Whenever a customer at a traditional online casino wants to withdraw their winnings, they are first tasked with having to prove their identity to the casino in question. This is normally done by sending the casino images of the player’s identification documents (passport, driver's license, etc.) as well as other similar proof (proof of address, proof of payment). Known as KYC (Know Your Customer), this process can come as a surprise for unsuspecting online casino users.

While international law requires all casinos to verify their customers’ identities, Brite casinos can do this with the help of bankID without needing to request any additional documents. As a result, Brite pay n play users can simply just request a withdrawal and get paid quickly.

Conclusion

Brite and its main competitors (Trustly, Zimpler, Euteller) have all become tremendously successful and popular in the online casino industry. For now, there do not seem to be any new innovations on the horizon to compete with the ease of using bankID. Of course, whether something new will come up in the next few years remains to be seen!