US Bank has rolled out Mobile Photo Bill Pay in collaboration with San Diego-based Mitek, which allows users to execute bill payments by clicking a photo of their bills with their smartphone or tablet.
The use of new technology will eliminate the need to manually enter payment information and helps adding or transferring billers and paying bills at no time.
It is expected that the adoption of the new service will touch 33% among US adults by 2018, and subsequently 1.4 billion bills will be migrated to the mobile channel, according to a research report.
US Bank mobile banking channel leader and senior vice president Niti Badarinath said that the new Mobile Photo Bill Pay will enable their clients to pay bills whenever and wherever they choose.
Minneapolis-based US Bancorp manages the bank and operates 3,084 banking offices in 25 states and 5,065 ATMs and delivers banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.