Bige Limited

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