“A cashless economy.” That’s BizX’s tagline. And now, members don’t even need a physical card or a computer to make transactions. On June 28, the Bellevue company launched a new mobile app which, you guessed it, makes it easier for members to spend BizX Dollars.
But wait, does everyone know what BizX is? We’ll explain. It’s a network of businesses that buy and sell from each other with a digital currency. In other words, one business can trade its products or services for another business using BizX Dollars. One BizX Dollar equals one US dollar. The hope is everybody wins and grows their company. Capisce?
The app has a handful of perks. For one, you instantly can search what businesses around you accept BizX. Find a restaurant nearby that will take your bizX card and order out. The app also includes three different payment options – proximity based payment, payment via email, and payment via card number. BizX cards will continue to work but, they’re also available digitally on the app. Check your transaction history, balance, and credit line all on your phone. Here’s a more detailed explanation of the app.
The leaders of BizX are hopeful that the app can help expand the company. BizX has over 4,000 members. In 2015, it facilitated over 80 million BizX dollar transactions. Members include INC magazine, Oakland Raiders, Clear Channel, and Habitat for Humanity. Working with small and medium sized businesses seems to be a key focus for the company.
“There is an estimated (under-utilized) capacity of $1.4 trillion in the small-medium business market in the US. This app further positions BizX to improve the efficiency of our members’ businesses, enabling their success in an increasingly competitive marketplace,” BizX CEO and co-founder, Bob Bagga said in a statement.