AppBrilliance announced that it has closed a strategic investment from Truist Ventures, the corporate venture capital arm of Truist Financial.
The investment allows AppBrilliance to build its IP portfolio and expand its resources to support interest from financial institutions ready to include real-time payments (RTP) into their Pay-by-Bank services.
By this, AppBrilliance’s MoneyAPI can reduce payment processing costs by up to 75% compared to processing payments over debit or credit cards.
The patented platform can plug into any payment platform for instant account-to-account payments over The Clearinghouse’s RTP or FedNow networks.
The investment partnership with Truist Ventures will help AppBrilliance fulfill the requirements for building the future of next-generation payments.
Combining Pay-by-Bank experiences with next-generation payment rails like RTP and FedNow will allow the partners to deliver incredible user experiences from e-commerce to point-of-sale (POS).