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Paying bills isn't fun, but for U.S. Bank customers it will be easier. The financial institution, the fifth largest bank in the U.S., is partnering with Mitek Systems to offer its customers Mitek's Mobile Photo Bill Pay.
Using Mobile Photo Bill Pay, customers have a simple way to pay bills from their mobile devices. They need only take a picture of their paper bill using the camera-on their mobile device; there's no need to enter any information on the device. Mobile Photo Bill Pay automatically extracts all the relevant information from the paper bill and auto-populates the fields required to make a mobile payment. Then it's just a matter of clicking "pay."
"We believe that Mobile Photo Bill Pay is the next killer app for financial services, and we're delighted that U.S. Bank is leading the mobile banking charge," said Mitek President and CEO James DeBello. He said the new technology is the next logical step for U.S. Bank's mobile strategy and builds on the success of Mitek's Mobile Deposit technology which is already used by millions of consumers around the country to make billions of dollars in deposits.
U.S. Bank said it will be the first leading FI to offer Mitek's Mobile Photo Bill Pay. The service will become available to customers starting in early 2013.
"Mobile banking and mobile payments continue to be a priority for U.S. Bank as we take advantage of new technology and deliver added convenience to customers via their mobile devices," said Niti Badarinath, senior vice president and head of mobile banking at U.S. Bank. Badarinath noted that U.S. Bank has been a leader in mobile banking and mobile payments since it piloted a contactless payment solution in 2008, and was one of the first banks to offer a mobile check deposit feature in 2010. "Our investment in mobile innovation will remain strong as we enter into 2013."
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