US Bank introduces mobile photo balance transfers

US Bank introduces mobile photo balance transfers

US Bank is rolling out a service that enables customers to use their phones to snap photos of credit card payment coupons and have the balance transferred to their account.

The bank is tapping Mitek Systems' mobile photo balance transfer technology for the service, which will be rolled out in November. Customers take a picture of the physical coupon and send it to the bank to apply for a balance transfer to their card.

Niti Badarinath, head, mobile banking, US Bank, says: "US Bank recognises the power of mobile imaging and its ability to enhance our customers' experience by giving them new and innovative ways to access and manage their banking relationship with us."

US Bank already taps Mitek technology to enable customers to set up bill payments by snapping pictures of paper bills with their phones. Early next year, the bank will boost the process with Mitek MiSnap, a tool which simplifies the imaging process by automatically capturing the best possible photo without the customer needing to snap the picture.

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