|By Business Wire||
|August 4, 2014 09:07 AM EDT||
Allied Payment Network, a provider of online and mobile bill payment services to the financial industry, announced that the company’s patent pending image process workflow provides a 99.2 percent read success rate when processing payments through its mobile photo bill pay solution, PicturePay®.
To make a mobile bill payment through PicturePay, the user simply snaps a picture of the bill, enters the amount and payment date, then the bill is paid. While this process is entirely automated, in the event that the image quality is too poor, Allied steps in to manually read the data from the image and then enters the information into the system for processing. This means the process is automated to the end-user more than 99 percent of the time.
“To achieve this high image read success rate, we fill the gap on images unrecognizable to the automated image processing system by having human eyes review the images when required,” said Ralph Marcuccilli, president and CEO of Allied. “Whether the user submits a photo of a full-page invoice or a photo of a napkin with the biller information handwritten on it, we can almost always process the payment.”
Allied continues to see increased adoption of its PicturePay solution among its customers’ end-users. As a result, Abilene, Texas-based First Financial Bankshares, Inc. (FFIN) – the first financial institution in the country to implement PicturePay – has increased its monthly PicturePay transaction volume by more than 80 percent over last year. This phenomenal increase is a direct result of PicturePay’s rapid adoption by the institution’s customers.
“Financial institutions like First Financial Bankshares are helping to drive bill pay adoption on mobile,” said Marcuccilli. “In turn, they reap significant benefits by simplifying the process, and by also providing a unique service that will attract new and existing customers. We look forward to the continued success PicturePay provides the industry.”
About Allied Payment Network
Allied Payment Network is an industry-leading provider of emerging bill pay technologies to the financial services and retail industries. With its award-winning solution, PicturePayTM, Allied pioneered the first mobile photo bill pay application for smartphones and has brought the same level of innovation to its full suite of online and mobile bill pay channels including solutions for Internet bill pay, small business payments, over-the-counter payments and online loan payments, among others. Allied’s goal is to make the bill paying process easier and more convenient for consumers, and more efficient and cost effective for the financial institutions who serve them. For more information, visit www.AlliedPayment.com.
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