Customers can set up bill payment with the
snap of a photo
MINNEAPOLIS--(BUSINESS WIRE)--Mar. 7, 2013--
U.S. Bank is the first major bank in the United States to deliver Mobile
Photo BillPay to its customers. This feature allows customers to set up
bill payments by snapping a picture of their bills with their
camera-enabled smartphone or tablet. By eliminating the need to manually
enter payment information, it makes adding or transferring billers and
paying bills a snap.
U.S. Bank announced in December 2012 that it was partnering with San
Diego-based Mitek to bring Mobile Photo Bill Pay™ to its customers.
Recent research forecasts Mobile Photo Bill Pay adoption to reach 33
percent among adult U.S. consumers by 2018, and result in 1.4 billion
bills migrating to the mobile channel. Another study suggests that more
than 1 in 5 customers would use this feature.
“We continue to leverage the capabilities of smartphones, and use
innovative ways of making banking more convenient for our customers,”
said Niti Badarinath, senior vice president and leader of U.S. Bank’s
mobile banking channel. “U.S. Bank customers were among the first in the
nation to be able to use their mobile device to deposit checks. Now,
we’ve made it really easy for our customers to enroll and use BillPay,
add billers and pay bills whenever and wherever they choose.”
U.S. Bank is using Mitek’s patented Mobile Photo Bill Pay technology
that automatically and securely extracts relevant information from the
paper bill and populates the fields required to make a mobile payment.
The consumer can review the information and schedule the payment by
clicking “Pay Now.” The new U.S. Bank Mobile Photo BillPay feature is
available to customers free of charge within U.S. Bank’s iPhone, iPad
and Android mobile banking apps.
Headquartered in San Diego, Mitek Systems
(NASDAQ: MITK) is a mobile imaging software solutions provider that
allows users to remotely deposit checks, pay their bills, get insurance
quotes, and transfer credit card balances by snapping a picture with
their camera-equipped smartphones and tablets instead of using the
device keyboard. Mitek’s technology increases convenience for the
consumer by eliminating the need to go to the bank branch or automated
teller machine, and dramatically reduces processing and customer
acquisition costs while increasing customer retention. With a strong
patent portfolio, Mitek is positioned as the leading innovator in mobile
imaging software and currently provides its solutions to Fortune 500
financial services companies. For more information about Mitek, visit www.miteksystems.com.
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE: USB),
with $354 billion in assets as of Dec. 31, 2012, is the parent company
of U.S. Bank, the 5th largest commercial bank in the United States. The
company operates 3,084 banking offices in 25 states and 5,065 ATMs and
provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to consumers,
businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
Source: U.S. Bank
U.S. Bank Public Relations
Teri Charest, 612-303-0732
Garrison Sprenger, 612-303-0731