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.
Related reading
Security a priority for EU’s INATBA blockchain taskforce
The European Commission’s new blockchain initiative, the International Association for Trusted Blockchain Applications (INATBA), should focus on quashing extant security concerns around ... read more
Dependence on manual accounting systems puts firms security and data at risk
Moving away from manual accounting and payroll systems to automated ones could prevent data and security issues, as firms have previously struggled ... read more
Merchants beating mobile payments providers at their own game
Mobile payments might be relatively new to America’s highly fragmented consumer market, but they’re catching like wildfire. In 2014, mobile payments accounted ... read more
Ingenico on Google POS and the the future of payments collaboration
I caught up with Guillaume Andre, Head of Marketing, Ingenico Northern Europe, to discuss the implications of a tech giant-payments provider collaboration-led future, and how Ingenico and Google might continue to innovate the POS system in the future.
Related companiesView all >
