In today's fast-paced world, technology is helping us to work and play from anywhere, any time. Mobile application development is touching new levels. Smartphone applications are now doing away with the paper work and data entry involved in bill payment. A recent report in PC World tells of a new mobile photo payment technology from Mitek that allows you pay your bills by using your smartphone to photograph the bills along with either a personal check or credit card.
Establishing an e-bill-payment sessions on smart phones can make transactions fast and easy to use. With the new image processing technology, there is no need to bother with logins and passwords to pay their bills. Customers have the option to make payment using their smartphone without logging onto either the bank’s or biller’s website. This mobile payment solution will allow them to pay monthly bills for utilities, credit cards and other loans ─ with the help of the photograph of a paper bill along with that of a personal check or credit card.
Mobile Photo Bill Payment ── Procedure
The procedure involves in photo bill payment through a smartphone is as follows:
- The customer takes a picture of a bill to be paid as well as of the paper check or credit card which is to be used to make payment
- The technology automatically extracts relevant data from the paper bill and auto-populates the fields required to make the mobile payment
- The payment information is extracted from the photograph of a paper check or credit card (the customer has to manually enter the 3 or 4 digit security code) taken using the smartphone
This facility allows billers and customers to directly interact with each other.
Key attributes of Mobile Photo Bill Pay
- The application eliminates the difficulty of users setting up information for individual payee accounts, as the technology extracts the required information from the photo image and automatically provides it to the bank’s bill-processing system in the required format.
can add a new payee, set up recurring bills and payments, pay
one-time or non-recurring bills and make expedited payments.
- Payees need to photograph their bills only once and the user’s information is automatically saved in the application's vendor list for future use.
- The app is template-free, which provides a superior customer experience for the user. A template-free platform supports a wide range of bill formats, making it a turnkey solution for banks.
- The application allows dynamic extraction of data from any invoice or bill, regardless of its layout.
The application is available as either an Android or iOS app or via a mobile browser. Many banks are now joining hands with Mitek to offer Mobile Photo Bill Pay service.