Brite Payments is bringing its cross-border Pay by Bank service to the United Kingdom after securing an Electronic Money Institution licence — an authorisation from the Financial Conduct Authority (FCA) that allows a firm to issue electronic money and provide payment services in the UK. The licence enables a phased product rollout for British merchants and consumers.

According to the company, UK businesses will be able to accept both domestic and European Pay by Bank payments through a single integration. In a Pay by Bank flow, customers authorise payments directly from their bank account rather than paying by card, and Brite's network connects more than 3,800 banks across 27 European markets.

The launch coincides with research commissioned by Brite Payments into online checkout problems. Research firm Appinio surveyed 2,000 UK adults, with the findings reported in Open Banking Expo's launch coverage.

Brite Payments Plans Cross-Border Rollout

Brite Payments launched its Pay by Bank business in 2019. The company presents its UK expansion as an extension of the payment and payout network it has developed across European markets. Through the planned integration, businesses would accept payments domestically and across that European network. Brite says merchants would avoid managing separate local providers, legacy contracts and slow settlement times.

Founder and chief executive officer Lena Hackelöer said the UK market has relied on overseas card networks and single-market legacy providers, arrangements she argues create problems for both merchants and consumers.

"Today's launch is an exciting moment in a post-Brexit world, as UK merchants can easily start offering Pay by Bank to their local customers and customers across Europe, enabling their expansion internationally," Hackelöer said.

The launch coverage describes fragmented technical standards, inconsistent settlement times and support challenges among legacy account-to-account providers. It says those issues become more apparent as transaction volumes and geographic complexity increase.

Survey Reports Abandoned Purchases

In the survey commissioned by Brite Payments, 47% of shoppers reported checkout rage when shopping online, and one in six said they had sworn and shouted at the screen, according to the findings.

Returns anxiety also affected purchasing decisions: 24% of respondents had avoided a purchase altogether because of it, while another 15% said they bought less to reduce the money tied up while awaiting a potential refund.

Poor payment options could affect retailers beyond an individual transaction, the survey found. Some 19% said they would actively blacklist a retailer, while 17% warned friends and family away from particular retailers.

The findings also linked checkout administration to abandoned purchases. Some 23% said they abandoned a purchase to avoid finding their physical card, while the average respondent lost an hour annually completing forms. A quarter of respondents (25%) had experienced payment failure from an input error an expired card or a security-check glitch. Just under one in 10 shoppers switched to another retailer for an easier experience.

Brite Payments Enters an Established Market

The coverage says the UK has more than 15 million Open Banking users and that the number is rising. Open Banking is the framework that lets customers authorise regulated third parties to initiate payments directly from their bank accounts — the infrastructure on which Pay by Bank depends. In the commissioned survey, 76% of respondents said they were familiar with Pay by Bank. More than 60% preferred a payment provider less exposed to disruption from problems in another country, while 58% would actively choose a UK or European company over an overseas alternative.

Hackelöer is scheduled to speak at Open Banking Expo UK & Europe 2026. The event takes place on 13-14 October at London's Business Design Centre. Further details about the company and its services are available on Brite Payments' official website.