BIM’s Key Points of Differentiation Highlighted by Digital Transactions

Digital Transactions summarized some of BIM’s key points of differentiation in an April 1, 2016 article by Jim Daly called “What’s In Your Mobile Wallet? It Might be the ACH”.

In the context of discussing the top companies focused on ACH, BIM was described as follows:

“Founded in 2009 but not pursuing its present course in mobile payments until 2013, [BIM] offers merchants a white-label mobile wallet with ACH funding playing a prominent role.

BIM Networks differentiates itself by offering guaranteed next-business-day settlement—assuming the payment comes through by 3:30 p.m. Eastern time—and condensing customer enrollment down to a less than a minute.

“We can get enrollment done in about 40 seconds,” says chief executive Adam Frisch, adding that competing wallets typically need at least a day, often two or three, to complete testing and risk assessments.

BIM Networks transactions average 1.5 to 1.8 seconds, Frisch says. The company supports such technologies as QR codes, near-field communication, and beacons.

“We’re agnostic,” Frisch says. “We make it really easy for our merchants. We accommodate whatever technology the merchant has today.”

BIM Networks, which claimed 3 million consumers on its platform as of last October through an undisclosed number of merchant partners, got an endorsement that same month from Merchant Customer Exchange LLC (MCX), the retailer-controlled consortium developing the CurrentC mobile wallet. MCX said it would use BIM’s platform to provide an ACH option for its retailers’ customers.”


The full article can be found here: What’s in Your Mobile Wallet? It Might Be the ACH