With its decision to deploy PicturePay, 3Rivers Federal Credit Union becomes the first credit union in the U.S. to adopt Allied Payment Network’s mobile bill pay solution.
PicturePay’s approach to mobile bill pay leverages the smartphone. Users take a picture of the bill and the imaging software – powered by the technology from another Finovate alum, Mitek – reads the data. All the user needs to do is enter the amount to be paid and the date to confirm payment.
3Rivers Federal Credit Union has more than $750 million in assets, and more than 67,000 members in northern Indiana and northern Ohio. 3Rivers was founded in 1935, and is headquartered in Fort Wayne, Indiana.
In partnership with Malauzai Software, Allied Payment Network recently announced the availability of PicturePay as a standalone solution. The company has been active in fundraising this year, as well, picking up a total of more than $750,000 so far in 2013.
Allied Payment Network demoed its PicturePay technology as part of FinovateSpring 2013 in San Francisco. See the company’s presentation here.