Why BIM?

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Today’s payments industry is broken and does not address key concerns of Consumers and Merchants

Consumers today…
  • Mostly prefer cash/debit – but don’t get rewarded for using them
  • Want customized shopping experiences with incentives that are relevant to them
  • Face decreasing value of credit rewards points
  • Are growing more concerned by card data breaches and security
  • Need a compelling reason to change payment methods and behaviors
Merchants today…
  • Want to effectively and more meaningfully connect with their customers
  • Face increasing brand and data disintermediation threats from third parties
  • Need to mitigate increasing network transaction fees
  • Are struggling to implement network-imposed EMV adoption
  • Feel threatened by mobile apps/wallets that collect and monetize what was once proprietary merchant-consumer data

Imagine if a Payment Platform existed that…

Provided Consumers with…
  • Valuable rewards and incentives
  • Customized shopping experiences based on their preferences
  • Peace of mind that their data is safe
  • Ubiquitous availability at the stores they frequently go to
  • A payment option that was fast, convenient and part of the apps they use every day
Empowered Merchants to…
  • “Self-fund” loyalty programs by redirecting fees they would typically pay big banks/networks to instead reward the loyalty of their customers
  • Promote their brand with their customers
  • Mitigate third-parties/wallets from attaining and capitalizing on customer data
  • Increase customer satisfaction with tailored buying experiences
  • Significantly lower processing costs and increase operational efficiencies

BIM is that platform.

BIM was specifically designed to enhance merchant/customer relationships, while lowering costs, strengthening the merchant’s brand, making customers happier, and improving the security of payments. BIM changes industry paradigms and creates a win-win for consumers and merchants to adopt and use ACH debit at the point-of-sale, on the phone, or online.

Lower transaction costs:

At BIM, we’ve combined some of the most ubiquitous processing engines with the latest security and enrollment technologies and wrapped them around the Federal Reserve’s ACH network so that Merchants can save money – a lot of money – on transactions.

We also guarantee all transactions and offer next day settlement, to provide the pricing Merchants want with the reliability Merchants need from a payment tender.

What Merchants do with these savings is their decision – keep the money and/or pass the savings on to customers through marketing and rewards.

Keep the Merchant brand front and center:

Why would any Merchant want another brand to come between them and their customers?

The BIM-powered ACH payment tender is branded by the Merchant and marketed to their customers through their app and their website.

Merchants direct their marketing initiatives, drive loyalty, and control the data about their customers.

It’s all about The Merchant.

BIM remains in the background powering the platforms that save money and help Merchants create better experiences for their customers.

Create loyal, happy customers:

Want your customers to love you? Make their experience fun, easy, convenient, worthwhile and secure!

Giving cash back, shortening lines, offering loyalty-based rewards, providing personalized shopping experiences, increasing awareness of your stores and products, speeding up the transaction process, etc... what do customers value the most? Merchants can use BIM Consumer Connect and other components of their mobile platform to solve the unique “pain points” of their customers to drive loyalty and satisfaction. When these solutions are tied to a Merchant-branded lower-cost payment tender, everybody wins.

Feel Safe about Security:

Now, more than ever, merchants and consumers need to have confidence that their financial and personal information is fully protected wherever they go.

At BIM, security is at the heart of our technology, and we have designed our front-end enrollment and back-end transaction platforms with several features to protect against fraud, including:

  • BIM applies proprietary processes with dynamic algorithms that utilize a myriad of real-time checks via several internal and external systems and databases to validate consumer, device, and banking data instantly at the time of enrollment
  • No banking or sensitive information is stored on our servers, on the consumer’s phone, or at the merchant’s point-of-sale.
  • If a phone with a merchant-app powered by BIM is lost, it could not be used to make a payment transaction without the owner’s private PIN.
  • Each payment authorization is only good for a specific purchase at a specific location at a specific time – if someone were to copy the code, they could not use it in the future
  • BIM maintains a holistic view of consumers on our platform and deploys a behavior-based system that allows us to evaluate each consumer, merchant, and transaction request combination automatically to provide real-time transaction decisions that minimize the potential for fraud before it can start