1. Sponsor Testimonial

MPE is a must-attend event on the payments calendar, and, following the launch of Brite Instant Payments in Germany, it’s a natural choice to return to Berlin and sponsor MPE 2025. Pay by Bank is a huge area of opportunity in merchant payments, and we’re excited to share our vision for empowering businesses through seamless and secure instant payment.

- Luke Trayfoot, CCO, Brite Payments

2. Customer Success Story - Auctionet

Background

Auction houses and auctions are undergoing a significant technological transformation. In Europe, Auctionet is at the forefront of this shift, providing a digital platform that streamlines auction processes and connects local auction houses with global consumers.

Challenge

Auctionet's mission is to modernise the entire auction process while supporting a network of over 70 auction houses across Europe. One of the primary issues was the high and unpredictable costs associated with card payments, particularly for international buyers.

Another challenge was managing the risk of chargebacks, which led to resource-intensive disputes and undermined the seamless experience Auctionet aimed to deliver for its users particularly buyers committing to high-value purchases.

Additionally, Auctionet’s model required the onboarding of new auction houses individually.

Many of these partners lacked the resources to implement advanced financial systems, making integration and payment reliability a top priority. The fragmented nature of theauction industry meant that Auctionet needed a payment partner capable of adapting to varied and complex requirements across multiple countries.

Finally, Auctionet needed to easily address compliance and security issues. As auctions often involve high-value items, ensuring secure transactions and meeting anti-money laundering regulations is critical to maintaining the trust of both buyers and sellers.

Auctionet sought a payment provider to meet these demands while simplifying its operational processes.

Solution

Brite Instant Payments offers Auctionet a reliable, transparent, and cost-effective alternative to card payments, and it is tailored specifically to the needs of the auction industry.

Results

Operational Savings: By integrating Brite Payments, Auctionet has achieved cost reductions. Approximately 20% of payments for onboarded auction houses are now processed via Brite, eliminating the high and often unpredictable fees associated with cards.

Improved Compliance: Brite’s adherence to strict regulatory standards aligns seamlessly with Auctionet’s commitment to anti-money laundering compliance. This ensures a secure environment for high-value transactions, enhancing trust and operational integrity across international markets.

Streamlined Operations: Brite's efficient onboarding and reliable integration processes have enabled Auctionet to quickly onboard new auction houses. This has improved operational efficiency, allowing Auctionet to scale while maintaining seamless payment processes.

Growth and Expansion: Integrating a scalable, cost-effective payment solution has given Auctionet the tools to strengthen its presence in existing markets and seize new opportunities in the circular economy. Eliminating chargebacks has helped to increase payment satisfaction.

Customer Testimonial

"Cooperation with the customer support at Brite Payments is very smooth. We can onboard new customers fairly quickly now, which has been an issue with other card or payment providers in the past.

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- Albert Ramstedt, CTO, Auctionet