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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Truist Financial Corporation | NYSE:TFC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.10 | 0.22% | 45.04 | 1,238 | 13:03:03 |
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.
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:
Key Benefits for Retailers and Merchants
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/appbrilliance-brings-real-time-frictionless-payments-to-closed-loop-digital-wallets-with-rtp--fednow-302208505.html
SOURCE AppBrilliance , Inc.
Copyright 2024 PR Newswire
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