Malauzai, Payment Network Firm Offer Up New Bill Payment Product

Austin-based mobile banking software developer Malauzai Software, and payment network provider Allied Payment Network said today they have rolled out a new mobile bill payment solution called Picture Pay. According to the two, they've rolled out a mobile application which lets consumers take a picture of a bill statement, confirm how much they are paying, and automatically submit that bill to a financial institution. The companies said they use optical character recognition to process the billing statement and confirm billers. The companies said the product works with any mobile banking provider, not just those using Malauzai's banking software. Pricing on the new product was not announced. The companies said the new software is aimed at helping community financial institutions add the bill payment features without having to rely on their existing, mobile banking provider.