AUSTIN,
Texas, July 29, 2024 /PRNewswire/ --
AppBrilliance, a pioneer in real-time payment solutions with its
cutting-edge Money API™ platform, is leveraging a recent rule
change by The Clearing House to expand use-cases for Real Time
Payments (RTP) to closed-loop digital wallets in the US.
AppBrilliance is leveraging a rule change
by The Clearing House to bring Real-Time Payments (RTP) to
closed-loop wallets.
Companies like Starbucks™, CVS™, Dunkin™', Chick-fil-A™ and many
other successful businesses have long provided engaging customer
payment experiences with their closed-loop wallets, but had to rely
on funding those accounts with conventional payment sources like
debit/credit cards or ACH. Outside the U.S., consumer use of
digital wallets has proliferated and eclipsed cards and other
conventional sources as the favored option for digital payments.
This represents a clear opportunity for expanding payment solutions
in the U.S. that AppBrilliance's Money API™ is positioned to
accelerate with real-time payments for digital wallet funding. The
elegant, white-labeled user experience makes real-time payments a
simple process for both merchants and consumers.
This breakthrough enables payment processors, retailers, and
merchants to drastically reduce payment processing costs and boost
customer loyalty with closed-loop wallet apps by integrating
real-time payments over The Clearing House's RTP and FedNow network
rails from the largest banks in the US.
Revolutionizing The Consumer Payment Experience of
RTP/RfP
AppBrilliance's patented Money API™ platform works with banks'
Request for Payment (RfP) APIs to seamlessly create
consumer-friendly closed-loop payment experiences. Only Money API™
allows for 100% white-labeled in-app payment flows with RfP,
reducing consumer check-out complexity by eliminating dozens of
areas of payment friction across all channels—in-app, online, and
at point-of-sale. By utilizing the Money API™ and RTP/RfP, wallet
apps can now offer a swift, secure, and seamless payment
process.
"Today's competitive market is looking for ways to replicate the
success of top-performing apps offering closed-loop payment
solutions. Our platform extends digital wallet platforms with
real-time, consumer-friendly payments over RTP/RfP, making it
easier than ever for businesses to enhance customer satisfaction
and loyalty while reducing payment acceptance cost,
fraud and chargebacks with instant good funds. The
recent approval of the payments use-case for closed loop digital
wallets by The Clearing House in May marks the beginning of a
transformative journey for real-time consumer payments in the US,"
said C. Eric Smith, AppBrilliance's
Founder and CEO.
Unlocking Strategic Value for Partners
AppBrilliance is not only transforming the payment landscape but
also presenting a unique opportunity for strategic partners to
capitalize on:
- Innovation Leadership: Our patented technology and
pioneering approach represent a fundamental innovation in
pay-by-bank, A2A and real-time payment platforms.
- Market Expansion: Tap into new revenue streams by
integrating real-time payments into improved and customized
closed-loop wallet strategies.
- Enhanced Customer Payment Experiences: Drive higher
customer retention and satisfaction with seamless, real-time
payment experiences where the consumer never has to leave the
wallet application.
Key Benefits for Retailers and Merchants
- Cost Efficiency: Slash payment processing costs while
reducing fraud and chargebacks by leveraging real-time
payments over new banking network rails.
- Enhanced Customer Loyalty: Provide a seamless, fast, and
secure payment experience within the closed-loop wallet that keeps
customers coming back.
- Increased Sales: Reduce friction at the point-of-sale
and online, leading to higher conversion rates and customer
satisfaction.
Strategic Partnerships and Market Demand
To meet the growing demand, AppBrilliance is partnering with
leading payment processors, digital wallet platforms, and banks
looking to transform the payment experience. These collaborations
will bring scalable, real-time payment solutions to market and
power the next generation of payment applications.
About AppBrilliance
Founded in 2016, AppBrilliance is backed by Truist Ventures, the
corporate venture capital arm of Truist Financial (NYSE: TFC). The
company provides seamless integration of real-time payment (RTP)
systems from The House and FedNow enabling card-free,
frictionless and secure transactions. AppBrilliance's technology is
protected by multiple issued US patents. For more information and
to see our technology in action, visit: appbrilliance.com.
AppBrilliance Media Contact:
C. Eric Smith
Founder/CEO, AppBrilliance Inc.
eric@appbrilliance.com
Call to Action
Join the revolution in real-time payments today. Contact us to
explore how AppBrilliance can transform your closed-loop wallet
strategy and take your customer payment experience to the next
level.
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SOURCE AppBrilliance , Inc.