Are you a financial institution? Do you love PicturePay, but fear parting with your current mobile banking provider?
No problem. Thanks to a new initiative by Allied Payment Network and Malauzai Software, the photo-based payment solution now will be available to banks and credit unions as a stand-alone mobile billpay alternative.
PicturePay enables mobile payments by allowing users to photograph their bill, confirm the amount to be paid, and then submit the payment directly. The software, powered by fellow Finovate alum Mitek, uses optical character recognition (OCR) technology as well as analytics to read and verify the data.
Founded in 2010, Allied Payment Network is headquartered in Fort Wayne, Indiana, and launched its PicturePay solution in January 2013. The company demoed its technology as part of the FinovateSpring 2013 show in San Francisco, winning special praise from both Bank Innovation and Credit Union Times.
See Allied Payment Network’s PicturePay in action here.