The
Switzerland-originated neobank Brighty App has just unveiled a new platform for
business payments within the European Union. Brighty aim is to serve
institutional investors not only in the traditional market but also in the
cryptocurrency market. This move is intended to tap into the dynamically
growing business-to-business (B2B) payment market, which will soon exceed $2
trillion in value.
The B2B payments
sector is witnessing significant growth, with its current valuation at roughly
$1.68 trillion. The digital payments segment alone accounted for a $5.44
trillion transaction value in 2020. This trend clearly indicates the increasing
reliance on digital payment platforms within the B2B landscape. By 2030, this
market will expand to over $2.1 trillion, growing at a Compound Annual Growth
Rate of 10.7%.
In response
to this rapid growth and to support business operations, the EU has streamlined
regulations for B2B payment providers, including implementing measures like
late payment fees to protect small businesses.
Amidst
these developments, Brighty App has announced the launch of its Brighty
Business platform. This digital banking and cryptocurrency payment platform
aims to revolutionize how businesses manage their financial transactions,
aligning with the market’s ongoing evolution.
Nikolay
Denisenko, the Co-Founder and CTO of Brightly App and a veteran in the sector
with experience from Revolut’s B2B platform launch, emphasized the platform’s
role in modernizing business transactions.
“Our
new B2B platform is a stride towards modernizing business transactions, making
them more seamless and user-centric,” Denisenko commented.
Brighty Business Features
Brighty
Business provides services tailored to meet the needs of businesses,
particularly those involving digital assets. While traditional financial
institutions have been slow to adopt practices around these assets, Brighty
Business aims to address this gap efficiently. The platform offers onboarding,
payment operations with both digital assets and fiat currencies, and
transaction risk-checking. Brighty Business also provides competitive exchange
rates, including over-the-counter exchange and account management tools.
“Whether a
business deals in crypto, fiat, or both, our platform can seamlessly facilitate
all transactions,” Denisenko added.
Already
serving thousands of B2C customers across Europe with substantial monthly
turnover in both B2C and B2B sectors, Brighty Business has established a
presence in the market. One feature is the availability of both virtual and
physical company-owned debit cards, facilitating operations across diverse
geographies.
Brighty
App’s B2B platform has already garnered positive feedback during its pilot
testing phase. The company is additionally conducting user experience interviews to
understand customer interactions with the app further and integrate
improvements.
The
Switzerland-originated neobank Brighty App has just unveiled a new platform for
business payments within the European Union. Brighty aim is to serve
institutional investors not only in the traditional market but also in the
cryptocurrency market. This move is intended to tap into the dynamically
growing business-to-business (B2B) payment market, which will soon exceed $2
trillion in value.
The B2B payments
sector is witnessing significant growth, with its current valuation at roughly
$1.68 trillion. The digital payments segment alone accounted for a $5.44
trillion transaction value in 2020. This trend clearly indicates the increasing
reliance on digital payment platforms within the B2B landscape. By 2030, this
market will expand to over $2.1 trillion, growing at a Compound Annual Growth
Rate of 10.7%.
In response
to this rapid growth and to support business operations, the EU has streamlined
regulations for B2B payment providers, including implementing measures like
late payment fees to protect small businesses.
Amidst
these developments, Brighty App has announced the launch of its Brighty
Business platform. This digital banking and cryptocurrency payment platform
aims to revolutionize how businesses manage their financial transactions,
aligning with the market’s ongoing evolution.
Nikolay
Denisenko, the Co-Founder and CTO of Brightly App and a veteran in the sector
with experience from Revolut’s B2B platform launch, emphasized the platform’s
role in modernizing business transactions.
“Our
new B2B platform is a stride towards modernizing business transactions, making
them more seamless and user-centric,” Denisenko commented.
Brighty Business Features
Brighty
Business provides services tailored to meet the needs of businesses,
particularly those involving digital assets. While traditional financial
institutions have been slow to adopt practices around these assets, Brighty
Business aims to address this gap efficiently. The platform offers onboarding,
payment operations with both digital assets and fiat currencies, and
transaction risk-checking. Brighty Business also provides competitive exchange
rates, including over-the-counter exchange and account management tools.
“Whether a
business deals in crypto, fiat, or both, our platform can seamlessly facilitate
all transactions,” Denisenko added.
Already
serving thousands of B2C customers across Europe with substantial monthly
turnover in both B2C and B2B sectors, Brighty Business has established a
presence in the market. One feature is the availability of both virtual and
physical company-owned debit cards, facilitating operations across diverse
geographies.
Brighty
App’s B2B platform has already garnered positive feedback during its pilot
testing phase. The company is additionally conducting user experience interviews to
understand customer interactions with the app further and integrate
improvements.
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- Source: https://www.financemagnates.com//fintech/brighty-app-enters-eu-b2b-payments-targeting-21-trillion-market/
