MCX adds BIM’s Guaranteed ACH Payments to CurrentC app

Source: MCX

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.”

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