AppBrilliance

About AppBrilliance

AppBrilliance Inc. operates within the U.S. financial technology sector, providing real-time, non-custodial open payments and banking services. The company was established in 2018 with a focus on fundamentally altering the payments landscape. C. Eric Smith, the founder and CEO, brings a wealth of experience from his previous ventures. Prior to AppBrilliance, he founded and led Teleo, a voice-over-IP company that was acquired by Microsoft in 2005 and subsequently became a core component of Skype and Microsoft Teams. His background in telecommunications infrastructure appears to inform AppBrilliance's approach to creating a direct, real-time payment network.

The core of AppBrilliance's business is its Money API™ technology, which is designed to enable businesses to significantly reduce payment processing costs by over 75%. The company achieves this by facilitating direct bank-to-bank transfers, thereby bypassing traditional payment card networks like Visa and Mastercard, along with their associated interchange fees. This model positions AppBrilliance as a direct competitor to payment processors that rely on the card system. The service is characterized as "non-custodial," meaning AppBrilliance does not hold the funds at any point during the transaction. Instead, it provides the secure infrastructure for the payer's bank to directly pay the merchant's bank in real time. This approach not only lowers costs but also accelerates the settlement process for merchants from days to seconds.

AppBrilliance targets a broad range of clients, including e-commerce businesses, bill payment services, and any enterprise looking to optimize its payment processing workflow and reduce operational expenses. The product suite includes Push-to-Pay for e-commerce checkouts and Pay-by-Text functionalities, integrating directly into a business's existing systems. The company's revenue is generated through a transaction-based fee, which remains substantially lower than the percentage-based fees typical of card networks. A significant milestone for the company was its selection as a "Top 10" company for the OnRamp Insurance Accelerator in 2019, highlighting its potential applicability within the insurance industry.