How they describe themselves: Paying bills using a mobile phone can be quite difficult. Manual data entry is cumbersome and often frustrating for smartphone users. PhotoPay develops an advanced technology that significantly improves bill payment experience using a mobile phone camera combined with efficient bill recognition algorithms and advanced data extraction techniques.
Our unique technology can be simply included as software library for iOS and Android-based mobile payment applications like mobile banking, mobile wallets, etc.
How they describe their product/innovation: PhotoPay and PDFpay are greatly improving the paper and electronic bill payment experience on mobile devices. PhotoPay uses a phone camera to extract payment data from paper bills and payment slips and PDFpay is used to extract payment data from bills and offers received electronically (in PDF, HTML or other electronic format), allowing very simple payment without manual data entry!
Our unique smartphone technology recognizes payment slips in real time and intelligently extracts payment data in a few seconds from paper or electronic bills. And users love it – it is much simpler and up to 10 times faster than typing payment data!
While PDFpay can work globally, PhotoPay currently works best in countries with standard payment slips (like Germany, Austria, Slovenia, Hungary and many other European countries). We are in the process of implementing nonstandard bill format support, which will enable even wider PhotoPay implementation.