AppBrilliance, a pioneer in real-time payment solutions with its cutting-edge Money API™ platform, has officially announced a decision to introduce real-time frictionless payments across closed loop digital wallets with RTP and FedNow. To understand the significance of such a development, we must acknowledge that, even though 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, they had to rely on funding those accounts through conventional payment sources like debit/credit cards or ACH. Now, with consumer use of digital wallets becoming more and more prominent than other conventional sources, it presents a creativity gap which AppBrilliance’s latest brainchild will look to fulfill. In essence, the company’s Money API™ platform comes decked with an ability to accelerate operations through real-time payments. Furthermore, the API’s elegant, white-labeled user experience makes it possible for these real-time payments to achieve a simple process in the case of both merchants and consumers. More on the same would reveal how AppBrilliance’s patented Money API™ platform can also work with banks’ Request for Payment (RfP) APIs to seamlessly create consumer-friendly closed-loop payment experiences. The solution, all in all, allows for 100% white-labeled in-app payment flows with RfP, thus reducing consumer check-out complexity by eliminating dozens of areas of payment friction across all channels i.e. in-app, online, and at point-of-sale.
“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, Founder and CEO of AppBrilliance.
Keeping this technological prowess in mind, the all-new API platform will enable AppBrilliance to capitalize upon, for starters, the prospect of innovation leadership. You see, the company’s patented technology and pioneering approach marks a fundamental innovation in pay-by-bank, A2A and real-time payment platforms. Next up, it will help AppBrilliance pursue expansion plans, considering the company can now avail new revenue streams by integrating real-time payments into improved and customized closed-loop wallet strategies. Then, there is the potential to enhance customer payment experience. This stems from making sure that users never have to leave the wallet application, something which should lead to higher customer retention and satisfaction. Almost like an extension of this advantage is the room for a significantly better sales conversion. Another detail worth a mention here is rooted in cost efficiency, and that is the case because AppBrilliance’s new API platform can use real-time payments over new banking network rails to reduce payments processing, as well as cut back on events fraud and chargebacks.
At launch, AppBrilliance is collaborating with leading payment processors, digital wallet platforms, and banks to bring scalable, real-time payment solutions to market.
Founded in 2016, AppBrilliance’s rise up the ranks stems from its commitment towards providing seamless integration of real-time payment (RTP) systems from The House and FedNow. Such a skill empowers the company to deliver card-free, frictionless and secure transactions at scale. Making the whole operation even better is how AppBrilliance’s technology is protected by multiple issued US patents.
