The financial institution is hoping that this will add convenience for smartphone using account holders.
City Bank Texas has just announced the launch of a new mobile payments solution that will use the Picture Pay service to allow customers to pay their bills through the use of their smartphones.
The service is being provided through the Allied Payment Network, which offers these services to the financial industry.
The Picture Pay solution through Allied is being called the first mobile payments app that allows a user to point and shoot their smartphone at the bill in order to pay it. They have stated that the customers of City Bank will be able to quickly and securely use their smartphones to take a picture of the bill so that it can be paid.
The Picture Pay functionality for mobile payments has now been added to the existing app for the bank.
The City Bank existing banking app has now had the Picture Pay functionality added to it so that users will be able to make mobile payments, beginning right away. According to the bank’s figures, over 40 percent of its customers who are using its traditional online services are also users of the app. This represents a proportion that is higher than the average in the industry.
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To use Picture Pay, a customer uses a smartphone to photograph a bill. He or she must then enter the amount of the mobile payment and the date on which the bill is to be paid. The technology within the Picture Pay feature then reads the bill’s data and applies build-in analytics in order to make a confirmation of the biller. The transaction is then executed automatically through the Allied Payment Network.
The bank has also said that the process of making mobile payments is streamlined through the identification and automation of payee setup. This makes the process simpler for customers who wish to pay a non-recurring bill. Customers are also given the choice to use an expedited service for a set fee, which can help them to reduce the risk of incurring late fees, which can be considerably more expensive.