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.
Brighty App Unveils New B2B Payment Platform in the EU
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.
