How they describe themselves: PhotoPay provides technology that simplifies paper or PDF bill payments on mobile devices. Across Europe, 8 banks with more than 2M customers are already using PhotoPay technology to enable the easiest way to pay any type of bill without manual data entry.
How they describe their product/innovation: Send any kind of payment related document from your mobile device to PhotoPay Cloud service and it will automatically extract necessary payment data for very simple, one tap payment experience. PhotoPay Cloud will handle any type of bill or invoice customers can receive – photo of a paper bill, PDF document and other types of electronic documents.
Besides simple payment, PhotoPay Cloud can archive documents for users and provide banks with a deeper understanding of customer financial behavior.
PhotoPay Cloud service can be integrated as a mobile banking feature or as a stand-alone product. It can be used as a private, on premises installation or through a secure cloud API.
Product Distribution Strategy: Private cloud setup or secure cloud API, direct licensing, through other fintech companies and platforms