Mobile imagining company Mitek is launching business-focused solution Commercial Mobile Deposit Capture, which allows users to capture invoice documents and deposit cheques using their smartphone or tablet camera.
Mitek’s Mobile Deposit solution already allows American banking customers to deposit cheques using mobile imaging, and is used by more than 33 million consumers and 3,300 financial institutions. The company expects financial institutions that already market Mobile Deposit to their retail consumers to cross-sell Commercial Mobile Deposit Capture to their existing business customers.
“A large percentage of U.S. businesses still pay invoices by check, particularly those with sales, service or delivery personnel that collect payments in the field,” said Bill Zayas, President and CEO of Miami-based payment processing solutions provider, DadeSystems. In fact, a recent surveyed showed that 72 per cent of businesses prefer payment via cheque or cash.
Mitek’s commercial solution will provide faster access to funds, reducing a company’s days sales outstanding (DSOs) and eliminating the tedious manual processes typically associated with matching and posting payments, the company said.
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.
It seems laptops are about to catch the biometric fever as PayPal, Intel, Lenovo and Synaptics are collaborating to introduce FIDO-enabled embedded fingerprint solution to PCs.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.