Brighty App launches EU payment platform

With the new service, Brighty App intends to address the difficulties that enterprises face when conducting business-to-business (B2B) payments, including high fees, delayed processing, and cross-border payments that often affect the flow of operations. The Brighty Business platform focuses on digital banking and cryptocurrency payments, being designed to simplify the way businesses manage financial operations and support the market’s expansion.

Brighty App’s launch of the platform came as a response to the expansion of the global market of B2B payments, with current evaluations estimating it at approximately USD 1.68 trillion. Furthermore, the digital payments landscape of this market also saw a transaction value of USD 5.44 trillion in 2020, underlining the accelerated adoption and dependency on digital payment platforms in the B2B sector. Statistics show that by 2030, the B2B payments market is projected to reach a value of USD 2.1 trillion, with a CAGR of 10.7%. To support this expansion, the EU established flexible regulatory requirements for B2B payment providers and instituted proactive measures to protect small and medium-sized businesses (SMEs).

Brighty App’s payment platform was developed to meet the various requirements of businesses in regard to operations and transactions that involve digital assets, considering that they are becoming fully compliant tools to accelerate and simplify business transactions. On the other hand, several traditional financial participants are slow to adjust and adopt new practices and offer suitable levels of service. Many companies face issues when it comes to the speed of onboarding and support for their financial operations when their digital assets cash flow is involved.

Brighty Business aims to eliminate these issues by providing enhanced onboarding, payments, and payout operations for both digital assets and fiat, supported by transactional risk-checking. The solution also provides cost-effective exchange, including OTC exchange, both from digital assets to fiat and back. Through its Payment Platform, companies can manage their accounts and payments. Brighty Business supports its partners to save on remittance fees and benefit from instant spending, as well as offers a referral programme for all B2B customers, with low fees and exchange rates.

Furthermore, the B2B platform offers virtual and physical company-owned debit cards that can be utilised by employees, with the feature being beneficial for enterprises that have a diverse geographical footprint. The cards can simplify the process of paying for business expenses, as it ensures that employees have the necessary resources to conduct their duties while enabling the business to maintain centralised control over expenditures. Brighty Business also allows enterprises to implement its API system into clients’ platforms.

According to Brighty App’s officials, with the new B2B platform, the company intends to advance the modernisation of business transactions by making them simpler and user-centric. Moreover, the platform’s objective is to enable a more efficient and transparent B2B payment landscape, while being inclusive.