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DoubleBeam’s SDK Saves Merchants on Interchange Fees by Using eChecks

This post is part of our live coverage of FinovateFall 2013.


Then, DoubleBeam demonstrated how it can save merchants on interchange fees:
“Our SDK for iOS and Android is an ingredient that runs inside other mCommerce applications. It links users’ bank accounts just by taking a picture of a blank check, then can store that information to process low-cost eChecks as a method of payment, saving merchants up to 80% off the cost of credit card interchange fees. It is being leveraged in pure mCommerce applications as a method to reload stored value accounts, and in brick and mortar retail apps where it also improves visibility into customer behavior for improved marketing ROI.”
Product Launch: January 2013
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed
HQ: Pasadena, CA
Founded: August 2011
Twitter: @doublebeaminc
Presenting Ted Tekippe (CEO) and Avi Lichtschein (VP Business Development)

The full demo video will be available at in mid-September.