AppBrilliance plans to expand the use cases for real-time payments, capitalizing on a recent rule change by The Clearing House.
This change paves the way for expanded Real-Time Payments (RTP) to closed-loop digital wallets like those offered by Starbucks, CVS, and Dunkin’. Historically, these wallets depended on traditional funding methods such as debit/credit cards or ACH transfers.
With digital wallet use surging globally, surpassing traditional payment methods, AppBrilliance’s innovation positions them to spearhead this growth in the US, offering a more streamlined funding option through RTP.
The Money API platform is capable of supporting 100% white-labeled in-app payment flows, working in tandem with banks’ Request for Payment (RfP) APIs. This integration simplifies the payment process across various channels—be it in-app, online, or at point-of-sale—effectively eliminating multiple friction points. By leveraging RTP and RfP, wallet apps are now equipped to offer faster, more secure, and seamless transactions, enhancing the overall user experience.
AppBrilliance Founder and CEO, C. Eric Smith, said, “”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.”
The strategic positioning of AppBrilliance not only transforms the payment landscape but also offers a significant opportunity for partners to leverage their innovative pay-by-bank and real-time payment technologies. By integrating these technologies, partners can tap into new revenue streams, creating customized, efficient wallet solutions that cater to evolving market needs.
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