Mitek Mobile Photo Bill Pay – A new way for USA customers to pay their Utility Bills online


There is no doubt that the Online Bills Payment market is booming and every month, the number of bills paid via the online mode is on the increase. What is true for India is also true for USA.

Every time, I read about a new ePayment product launch in other parts of the world, my immediate thoughts, is when and who will launch it in India.

In India, the Online Bill-pay market is at a very nascent stage. One of RBI Payments Vision Document thrust area is on the development of a robust Online Bill-pay system for India.

The Online Bill-pay ecosystem comprises the respective utility service providers, IT companies, financial institutions and customers.

Benefits for the various players to invest in a robust Online Bill-pay ecosystem.

Utility Service Providers: a) Quick TAT b) Reduced transaction cost

IT Companies: a) New Product stream. b) Continuous AMC stream.

Financial Institutions: a) Good avenue for low-cost deposits b) Additional marketing tool.

Customers: a) Bills can be paid on the go. b) Minimal chances for delayed bill payments.

The main reason for customers hesitant to migrate to the Online Bill-pay is the pain of adding a new beneficiary in their Online banking module. As the number of bills to be paid every month increase, this becomes a major stumbling block, if the customers desire to migrate to a new Banking institution.

The customers prefer the ‘Push mode’, to the billers’ accounts rather than ‘pull mode’, from their banking accounts by the billers. This is because majority of the customers are not confident of the ‘pull mode’.

Hence, in case an easy and safe method is made known to the customers, they would be willing to migrate to online bill-pay mode.

One new product, which is to hit the USA market by 2012year end, is the ‘Mitek Mobile Photo Bill Pay’.

The Product was unveiled in Finovate 2011, and now the product is ready for a commercial launch. Mitek is in talks with several banks for a pilot launch, but the first partners’ name is still under wraps.


The product features in brief are as under:

01) A Smartphone is a necessity.

02)Customers take a photo of the bill with their smartphone.

03)The Mitek software starts recording the bill and populates the necessary fields for a successful bill payment.

04)The billing data is cross-verified with the billers’ data and any ‘curing’, is done. This happens as real time incoming data is synchronized with databases of billers.

05)Hence the success rate is as high as 90%.

06)Transactions conclude with verification that the users’ bills have been paid and electronic payments have been sent from their financial institutions.


Some key attributes of ‘Mitek Mobile Photo Bill Pay’ :

a)    The smart-phone App eliminates the hassle of users setting up information for individual payee accounts because Mitek technology extracts the data from the photo image and automatically provides it to the financial institution’s bill-processing system in the required format;

b)   Users need to photograph their bills only once and payee information is automatically saved in the application’s vendor list for future use;

c)    The app is template free, which provides a superior customer experience for the user and low cost of ownership for the bank thanks to Mitek’s dynamic data-capture capabilities.

The whole process i.e  all customer communication, image processing and data extraction is completely encapsulated and secure.


Re-disseminated by Prashant N. Banker by daytime, Blogger by night

One thought on “Mitek Mobile Photo Bill Pay – A new way for USA customers to pay their Utility Bills online”

  1. In India for any RTGS or NEFT payment you need to enter the IFSC and MICR Code no in addition to beneficiary account no. Normally IFSC and MICR will not be available in any vendors invoice. To effect Mitek Mobile Photo Bill Pay payments we need to ensure the important fields are captured.

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