Leveraging technology from Top Image Systems, Snap-to-Pay brings the
latest mobile bill payment technology to Fiserv clients
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today the launch of its Snap-to-Pay™
capability for select Fiserv mobile banking and payments solutions,
which enables consumers to pay bills quickly and easily with a snap of
their smartphone cameras. Essential bill information, such as the
company to be paid and the amount due, is captured by taking a picture
of a paper bill, and then used to automatically populate the appropriate
fields on the smartphone screen. Snap-to-Pay leverages mobile imaging
technology from Top Image Systems™ (TIS™), which enables mobile devices
such as smartphones and tablets to accurately capture information from
documents of all types and sizes.
Snap-to-Pay allows consumers to set up a new biller to be paid, pay
their bill and enroll in electronic bill presentment if they would like
to have future bills delivered to their account as e-bills. Users save
time and can avoid frustrating input errors because the functionality
eliminates the need to tap in large amounts of information on the phone
keypad, making bill payment a “snap.”
Mobile Direct: Snap-to-Pay™
Snap-to-Pay functionality will be available in October 2013 as part of
Mobile Direct from Fiserv, a comprehensive mobile billing and payment
solution for billers that includes apps and mobile-optimized websites.
Mobile Direct: Snap-to-Pay, available in the Mobile Direct app, enables
smartphone users to take a picture of their bill to make a bill payment
directly to the biller or to sign up to receive e-bills from the biller.
In addition, users can take a picture of the payment method, such as a
check or credit card, further streamlining the bill payment experience
by making it easier to quickly populate key billing and payment fields.
The Snap-to-Pay functionality will also be available via Mobiliti™ from
Fiserv, the industry leading mobile banking, alerting and payments
solution used by nearly 1,600 financial institutions and millions of
bank and credit union customers worldwide. Snap-to-Pay is initially
available to Mobiliti Enterprise clients, with plans to integrate the
functionality into additional versions of the product.
Snap-to-Pay has been tested through an extensive proof-of-concept
evaluation for ease of use and accuracy, and to ensure it meets Fiserv
standards for security. It is designed to complement existing billing
and payment capabilities, and has the potential to grow the number of
customers making electronic bill payments and receiving e-bills while
increasing customer self-service and satisfaction. Billers and financial
institutions that offer Snap-to-Pay functionality have a distinct
opportunity for market differentiation.