Bank customers will soon be able to pay old-fashioned paper bills the modern way by simply snapping pictures of the bills with their smartphones, Mitek Systems has announced.
With its new Mobile Photo Bill Pay app, users can submit electronic payments from their smartphones without having to write checks, lick stamps, visit a payment location or even use their personal computers. They simply take pictures of the bills and the Bill Pay app does the rest – correcting image distortion, reading relevant data and processing the transactions through the users’ banks.
At launch, Mobile Photo Bill Pay is available for inclusion in mobile applications for iPhone with Mitek soon supporting a number of other smartphones and operating systems, including BlackBerry, and devices that run on the Google Android and Microsoft Windows Phone 7 platforms.
The application allows financial institutions to give their consumer and business customers a convenient and flexible new option for quickly paying their bills. “In today’s fast-paced world, we work and play from anywhere, making smartphones the devices of choice for those always on the go,” comments James DeBello, CEO, Mitek. “More and more, we’re managing much of our lives through our smartphones, and Mitek has created a breakthrough way to pay bills anywhere, anytime.”
After establishing online-bill-payment arrangements as part of their banking, cash management or credit union accounts, users of Mobile Photo Bill Pay can initiate e-bill-payment sessions on their smartphones, then simply snap photos of the bills they want to pay, verify the payment information and click on the app’s “PAY” button.
IMagePROVE technology addresses the challenges of capturing an image with a mobile device with high accuracy for data extraction. Transactions conclude with verification that the users’ bills have been paid and electronic payments have been sent from their financial institutions.
Key attributes of Mobile Photo Bill Pay include: