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Digital payments platform provider Buy It Mobility Networks Inc. is betting its new BuyPass application will further reduce the complexities around connecting to its platform for merchants that want to offer branded payment options that debit a consumer’s bank account.
Launched Wednesday, the application drops a URL into a merchant’s payment application that connects the application directly to the Buy It Mobility platform on the front end and to the Discover Financial Services network on the back end. In this way, BuyPass eliminates the need for a direct connection or use of an application programming interface to connect to BIM’s platform
Since its founding in 2009, BIM has steadily moved toward streamlining connectivity to its platform. “Integration can be a colossal amount of work for some merchants,” says chief executive Adam Frisch. “We started with a direct connection, then moved to APIs, but still found that many merchants don’t necessarily have the resources for such an undertaking and find integration to be complex. With BuyPass, we are eliminating 95% of merchants’ integration lift and enabling faster speed to market with a branded debit product.”
Providing a built-in connection to Discover’s network will enable any merchant within that network to have instant access to BIM’s platform. As part of the deal, BIM will leverage Discover’s network and virtual card solution to facilitate merchant-branded ACH transactions.
“Any Discover merchant will have access to BuyPass through the Discover network,” Frisch says. “We want to give merchants the ability to create superior buying experiences, so their customers buy more and buy more often.”
BIM expects the introduction of BuyPass will expand its merchant base and grow its market share to 45% of all petroleum/c-store locations in the United States during the first half of 2022. BIM has already built a strong presence in the petroleum retailer market through deals with Phillips 66, Conoco, and 76. Consumers using those retailer-branded apps can pay for fuel using their checking accounts by selecting the ACH payment option in the app.
