Mitek Mobile Photo BillPay Technology Allows You to Pay Bills by Taking Their Photo

Banks have been allowing users to make deposits by taking photos of paper checks, but U.S. Bank wants to use that technology to help you pay your bills. The bank’s new mobile feature uses Mitek’s Mobile Photo BillPay –  a software that uses a phone’s photographic technology to extract payee, account numbers, and payment amount to make payments on your behalf. customers can manually verify the payment information before sending.

Banks in Sweden, Spain, and Brazil have been using similar technology for mobile payments. Mitek’s survey forecasts a 33% adoption rate by the year 2018. Since Banks have been encouraging consumers to go paperless, many users might not have too many paper bills to scan. Making web payments easier will be the predominant objective for this user.