Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
Picture Pay Shows Strong First-Year Growth
AUSTIN, Texas (11/20/13)--Picture Pay, a mobile photo bill payment application from Mitek, Allied Payment Network and Malauzai Software Inc. has seen 17% month over month increase in active end-users and 13% monthly growth in the number of items processed since its launch in November 2012, the companies said.
 
The companies also reported that 5% of active mobile banking users employed the feature in the first 90 days after its launch. That is above the usage figure of 3.5% for standard bill pay on the mobile device. 
 
Picture Pay allows users to complete a payment in three steps: Take a photo of the bill statement, confirm the amount to be paid and submit the payment to the financial institution.
 
The application packages Mitek's patented mobile imaging technology and Allied Payment Network's payments processing capabilities inside the Malauzai SmartApp to provide account holders with a convenient way of paying bills through the mobile channel while giving banks and credit unions a more cost efficient alternative to traditional Internet banking bill payment offerings.


RSS print
News Now LiveWire
Housing starts swell in July #NewsNow #Market http://t.co/EdKIhXEj9l
14 hours ago
Consumer inflation tapers after spring surge #NewsNow #Market http://t.co/bgvQd8fyuF
14 hours ago
Have you read this one today in #NewsNow? What NCUA examiners look for on cybersecurity efforts: NCUA Report http://t.co/4g5wUavUAe
15 hours ago
.@CFPB sets $2.75M fine v. auto finance co. it says "distorted consumer credit records for years": TX-based First Investors Fin. Serv. Group
16 hours ago
University, college #creditunions add fin ed to higher ed. See #NewsNow http://t.co/NsyshwHPhg
17 hours ago