AppBrilliance, a provider of real-time payment (RTP) solutions, is capitalizing on a recent rule change by The Clearing House to expand the use of real-time payments to closed-loop digital wallets in the United States.
Traditionally, companies like Starbucks and CVS have relied on conventional payment sources to fund their closed-loop wallets. AppBrilliance's Money API platform, integrated with RTP and FedNow networks, allows real-time payments for such wallets, reducing payment processing costs and enhancing customer loyalty, AppBrilliance stated.
AppBrilliance's Money API leverages banks' Request for Payment APIs to create seamless, white-labeled payment experiences, eliminating payment friction across all channels, the company stated. This enables digital wallet apps to provide a swift, secure payment process for merchants and consumers, AppBrilliance stated, adding that in addition to lowering processing costs, the platform reduces fraud and chargebacks while enhancing customer loyalty and increasing sales through a smoother payment experience.
Founded in 2016 and backed by Truist Ventures, AppBrilliance stated it offers card-free, frictionless transactions protected by multiple U.S. patents and drives innovation in real-time payments to unlock strategic opportunities for its partners. The company is partnering with leading payment processors, digital wallet platforms and banks to create joint opportunities to meet growing market demand for scalable real-time payment solutions. For more information, visit appbrilliance.com/wealthfront-appbrilliance. 
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