Bige are totally independent from banks and telephone companies, and are able to direct and settle funds instantly from our customers personal accounts to the merchant’s corporate accounts on a closed loop basis. Bige uses the Open Banking Platform and by doing so have effectively removed all third party influences that delay payments and add to the cost of traditional payments such as credit and debit cards and SWIFT transfers for effecting payments.
A closed loop indicates that there are interactions between 2 or more internal elements without interference from the outside. In the financial sector it’s often related to money transfers between accounts in the same financial institute. In Bige's case, when issuing virtual accounts to both the merchant and the end-user, it is considered closed loop processing, as the transactions stays in the same closed network.
When the end-user uses the Bige account the transaction will be routed directly to the Bige platform and the transaction will be cleared and settled directly and instantly. The traditional payment network and card-schemes are not involved and the settlements can be performed instantly. Closed loop payments can be available for all Internet and mobile payments as well as NFC payments.
Solutions and services:
Seamlessly integrate API to banking services to enable creation of digital ledgers which connect to real bank accounts
Issue IBANs for ledgers
receive money/send money
Convert money (FX)
Collect money (direct debit)
Issue cards
Manage credit
Key points for merchants:
Cashflow due to instant settlement of funds
No holdback/reserve requirement
No chargebacks
Close to 100% conversion rate
Almost eliminate the costs normally associated with processing payments
Highly secure closed loop transactions
Virtually eliminate the possibility of fraud
Company Details
- Employees
- 2
- Founded
- -
- Address
- The Chq Building, Custom House Quay,ireland
- Industry
- Information Technology & Services
- Website
- bigeltd.com
- Keywords
- Open Banking, PSD2, Fintech, Payments.
- HQ
- Dublin 1, Dublin
Bige Limited Questions
Bige Limited's website is bigeltd.com
Bige Limited's LinkedIn profile is https://ie.linkedin.com/company/bige-limited
Bige Limited has
2 employees.
View email and phone details for 2
employees at Bige Limited.
Bige Limited's industry is
Information Technology & Services
Bige Limited's top competitors are
Codeeast,
Synch,
Wazar-It,
Risksystem,
Chasing Returns,
Miura Regtech,
Surf Accounts,
Antuar,
Lotic Bige Limited,
Hivera.
Bige Limited's categories are Information Technology & Services
Bige Limited's founding year is 2018
