Allied Payment Network Picture Pay

As mobile payments become more prevalent, community banks must adapt to the changing payments landscape by offering new solutions that meet their customers' needs for a mobile bill payment functionality. As a result, Allied Payment Network and Malauzai Software developed Picture Pay the nation's first mobile photo bill pay application for smartphones.

Picture Pay enables banks' customers to easily and securely pay any bill using the camera on their smartphones. Users simply take a picture of the bill, enter the amount and payment date, and the bill is paid. Picture Pay's optimal-character-recognition technology does the rest by reading the data from the bill, then syncs with the customer's bank to process the payment.

Malauzai and Allied Payment Network developed Picture Pay to help community banks drive mobile adoption while competing cost-effectively with large national banks. For example, Picture Pay:

1. Removes the biggest barrier to bill pay adoption the hassle of entering payee and account information online. Picture Pay streamlines this process by identifying and automating payee set-up.

2. Generates revenue by giving customers the option to expedite payments for a small convenience, which eliminates more expensive late fees for customers while generating additional fee revenue for the bank.

3. Saves costs by offering banks a transaction-based pricing model rather than a per-user fee, ultimately freeing them from having to pay for customers who are not using the service.

4. Creates a strategic differentiator for community banks by meeting customers' demands for an accurate, simple bill pay solution that larger banks do not offer.

Allied Payment Network