P97 Networks and Buy It Mobility Networks (BIM) to Implement Branded ACH Mobile Payments at Phillips 66®, Conoco®, 76® Branded Sites

HOUSTON–(BUSINESS WIRE)–Today, P97 Networks and Buy It Mobility Networks (BIM) announced they have struck a deal with customer Phillips 66 (NYSE:PSX) to provide ACH based payment and consumer engagement services at Phillips 66®, Conoco® and 76® branded locations. The program will rely on BIM’s advanced technology to expand the capabilities of P97 Networks’ PetroZone® Mobile Commerce Platform and provide Phillips 66®, Conoco® and 76® branded consumers with a fast, easy and secure way to link their checking account to Phillips 66’s mobile payment offering.

Phillips 66’s mobile branded debit program will now operate via BIM’s white-label ACH platform, enabling faster consumer enrollment, increased consumer loyalty and engagement, consumer authentication and risk mitigation to dramatically reduce fraud, and guaranteed transactions that settle the next day to Phillips 66.

“We are really excited to be working with Phillips 66 and all three of their iconic fuels brands, as well as a world-class technology company in P97,” said BIM CEO Adam Frisch. “Not only will this partnership offer consumers a better and more rewarding payment option, but Phillips 66 will also benefit from a platform that enables them to develop more meaningful relationships with consumers, drive loyalty and lower transaction costs and fraud expenses.”

“Working with P97’s winning technology and BIM’s premier payment platform helps put Phillips 66 at the forefront of the mobile commerce revolution for branded fuel locations and c-stores,” said Rod Palmer, General Manager Marketing Services. “With BIM’s ACH debit product in our branded wallets, most consumers with a bank account will have the opportunity to pay with their phone at our branded sites.”

“U.S. consumers and merchants are increasingly demanding ACH at the point of sale, which is important for the future of mobile commerce; BIM is leading the charge and is the best platform we have seen in the marketplace,” said Don Frieden, President and CEO of P97 Networks. “By collaborating with BIM, PetroZone will help make the company’s vision of a frictionless, safe, paper-free check-out process a reality.”

About Buy It Mobility Networks

Buy It Mobility Networks (BIM) is the premier mobile/web ACH-based payment and consumer engagement platform that enables merchants to develop more meaningful relationships with their customers, generate incremental revenue growth, lower payment costs, dramatically reduce fraud rates, drive loyalty participation and create superior mobile and online buying experiences for their shoppers. BIM’s platform also offers fast consumer enrollment (roughly 40 seconds on average), reduces fraud through its proprietary authentication/verification tools and risk algorithms and provides guaranteed transactions that are settled next day. To learn more, visit http://www.bimnetworks.com.

 

About P97

P97 Networks provides secure cloud based mobile commerce and digital marketing solutions for the convenience retail and fuels marketing industry under the brand name PetroZone®. P97’s mCommerce solutions enhance the ability of convenience store operators, marketers, and oil companies to attract and retain customers by providing technology that securely connects millions of individual mobile phones and connected cars with identity and geo-location based software technology to create truly unique connected-consumer experiences. P97’s software personalizes the “find-buy-save” experience for every mobile consumer. For more information follow us on Twitter @p97networks or visit www.p97.com.

 

About Phillips 66

Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company’s master limited partnership, is an integral asset in the portfolio. Headquartered in Houston, the company has 14,600 employees committed to safety and operating excellence. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.

 

Contacts

P97 Media Contact
Monica Danna, 281-687-7515
monica.danna@p97.com

 

Press Release from BusinessWire: http://www.businesswire.com/news/home/20171017005480/en/P97-Networks-Buy-Mobility-Networks-BIM-Implement

Merchants should put payments ‘in front’ to win consumer loyalty (Article in Payments Source)

Merchants should put payments ‘in front’ to win consumer loyalty by BIM CEO Adam Frisch highlights how merchant-branded tenders gives merchant’s the opportunity to create a better buying experience that the consumer associates with their brand and logo – driving profits and increasing customer loyalty at the same time.

The full article can be accessed here: https://www.paymentssource.com/opinion/merchants-should-put-payments-in-front-to-win-consumer-loyalty

 

BIM at Barclays Emerging Payments Forum

BIM CEO Adam Frisch was grateful to be an invited guest on the “ACH: A Risk or An Opportunity?” panel at the Barclays Emerging Payments Form on May 2, 2017.  The well-received session highlighted the great buzz around ACH!

BIM CEO to Present at NACHA Payments 2016

BIM CEO Adam Frisch will lead a discussion on “Big Players, Big Impact: Merchants Driving ACH Payments Innovation” at the NACHA Payments 2016 Annual Conference in Phoenix, Arizona on Tuesday, April 19, 2016 at 11:25am.

ACH is now a real payment option at the POS ­- wherever that may be.  And that is an underappreciated but important development in the evolution of the payments industry. By leveraging the inherent economic benefits of ACH, merchants are able to self-fund their customer loyalty and incentive programs, while simultaneously creating mass customization of a better buying experience.  By driving their customers to their app and website and offering a branded debit tender at checkout, merchants are significantly mitigating the potential brand and data disintermediation that can result from mobile and eComm transactions.  Buy It Mobility Networks Inc.’s (BIM) ACH payment tender is evolving right along with this industry to help enable consumers to quickly and securely connect their checking accounts to apps and make payments at the cash register, table or pump, encompassing the big-box, convenience, pharmacy, fuel, grocery, quick-and full-service dining, specialty-retail and transit categories whether it is with individual merchants or part of MCX’s CurrentC offering.  This session will show how BIM is working to improve the consumer buying experience with additional secure payment options, and streamlined account provisioning, enrollment authentication and account verification processes, and learn how merchants are benefitting from guaranteed transactions with fast and regular settlement timeframes.  ACH is at the POS, and BIM is powering that movement.

NACHA Payments 2016 is one of this year’s most prestigious conferences with thousands of industry leaders in attendance.  To learn more about this session and others, visit the Payments 2016 website.

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

BIM CEO Discusses Value Proposition at Barclays Emerging Payments Forum

BIM CEO Adam Frisch spoke at the Barclays Emerging Payment Forum in New York, NY on March 15, 2016, alongside other top executives from across the payments industry.

Adam outlined BIM’s comprehensive value proposition to all key stakeholders in the payments ecosystem – merchants, consumers and banks – highlighting how BIM is uniquely bringing ACH to the point of sale, wherever it may be – in store, online, or on the phone.

BIM Chosen as Finalist in 2 Categories at the 2016 PYMNTS Innovator Awards

After weeks of deliberation, and the most exhaustive vetting process in the industry – the judges have spoken!  BIM has been selected among the 5 finalists for not one – but two – awards at the PYMNTS Innovation Project 2016, chosen out of over 600 nominations: The NACHA Best in Innovation in ACH Category, and The Most Disruptive Company.   We are excited and honored for these recognitions!

Innovator Award Finalist Graphic

 

BIM and MCX Discuss New Capabilities for ACH at Money 20/20

BIM CEO Adam Frisch spoke at Money 20/20 in Las Vegas, Nevada, and unveiled new functionality that increases consumer adoption of retailer-branded mobile payments and significantly reduces friction in the customer enrollment process for ACH mobile payments.

Adam, with additional commentary from MCX CEO Brian Mooney, described how innovation in the mobile wallet space to date has yet to substantially disrupt consumer behavior and that a significant percentage of consumers still use cash and debit cards for in store transactions.  BIM delivers a mobile/web ACH platform to consumers and merchants that transforms the debit experience, and is an integrated part of the CurrentC mobile wallet that includes loyalty, rewards, and coupons.

Click here to watch the presentation

MCX Adds BIM’s Guaranteed ACH Payments to CurrentC™ App

BIM will power secure mobile payments via consumers’ checking accounts
BOSTON–(BUSINESS WIRE)–Merchant Customer Exchange (MCX) today announced that it will add Buy It Mobility Networks Inc.’s (BIM) guaranteed, ACH payment tender to CurrentC™, MCX’s customer-centric mobile payment solution. MCX is a group of leading merchants that have come together to innovate the mobile payments industry and improve the consumer’s shopping experience. The CurrentC™ app is currently in its first phase of implementation in several retail locations, and will debut nationwide in 2016.

Using BIM’s technology, consumers will be able to quickly and securely connect their checking accounts to the CurrentC™ mobile wallet app and make payments at the cash register, table or pump at more than 70 brands nationwide including leaders in the big-box, convenience, pharmacy, fuel, grocery, quick-and full-service dining, specialty-retail and travel categories. When CurrentC™ debuts nationwide, consumers will be able to use the CurrentC™ app on virtually any iOS or Android mobile device to both pay for an item and redeem applicable coupons, promotions and rewards at the same time.

The BIM solution also enables a more streamlined account provisioning process, and incorporates several technologies to reduce the typical 1-3 day enrollment authentication process to less than 60 seconds in many cases. The BIM solution offers fast account verification for more than 90 percent of the checking accounts in the U.S. and more than 3 million customers already exist on the BIM platform due to the company’s existing partnerships. To further protect CurrentC™ consumers, our zero-liability policy protects consumers in the event unauthorized or fraudulent charges are made to their checking account as a result of unauthorized ACH transactions processed through BIM. Consumers will not be responsible for any charge, loss, or out-of-pocket cost related to those unauthorized charges when reported to us as directed. For merchants, the BIM solution is technology agnostic and approved transactions are guaranteed with quick and reliable settlement.

“We are hearing directly from consumers about the importance of having choices when it comes to payment within the app. With BIM’s technology and the ability to pay via a checking account, consumers will soon have several options for paying for goods and services using CurrentC™” said Brian Mooney, MCX CEO. “While consumers want options, they also want security. We chose BIM’s technology for its seamless integration with CurrentC™, security features, and fraud prevention capabilities.”

“CurrentC™ is committed to improving the customer experience through mobile payments,” said Adam Frisch, President and CEO of BIM. “We’re thrilled to support that mission with our technology platform that provides consumers with a safe, convenient and seamless way to pay with their checking accounts at the nation’s leading retailers.”

About MCX

Merchant Customer Exchange LLC (MCX) is building CurrentC™, a customer-focused and security-driven mobile commerce solution that will deliver a seamless and convenient payment and shopping experience for customers and merchants alike. MCX’s owner-members include leaders in the big-box, convenience, pharmacy, fuel, grocery, quick- and full-service dining, specialty-retail and travel categories. Collectively, these companies operate more than 110,000 locations and process more than $1 trillion in payments annually. The company operates from offices in Boston and Dallas. For more information, visit www.mcx.com. CurrentC™ and all associated proprietary marks are trademarks of Merchant Customer Exchange LLC and its related entities.

CurrentC™ and all associated proprietary marks are trademarks of Merchant Customer Exchange LLC and its related entities.

About BIM

Buy It Mobility (BIM) Networks Inc. is a next-generation payments and commerce platform that enables merchants to lower their costs, strengthen their brand, and enhance the buying experience for their customers. For merchants, BIM is an ideal white-label payments platform – safe, reliable, consumer friendly with up to 95% reduced transaction fees. The branded tender can be combined with loyalty, reward, and incentive programs as part of their consumer engagement strategies. For consumers, one-time enrollment with limited data input allows them to load the merchant application, adopt the program, and complete their validation – all generally in less than a minute – with simple PIN number or biometric authorization for forward purchases. To learn more, visit www.bimnetworks.com.

 

Contacts

Finsbury
Jonathan Lowe, 646-805-2068
Jonathan.lowe@finsbury.com

Press Release from BusinessWire: http://www.businesswire.com/news/home/20151016005517/en#.ViFJ0xCrQi5