Mobile capture and identity solutions provider Mitek announced the launch of its Mobile Multi-Check Capture capability as part of its Commerce Mobile Deposit Capture solution yesterday (Nov. 3).
The new capability will allow businesses to use a mobile device to make batch deposits thus reducing the need for scanners and multiple trips to a bank branch location or ATM, the company said.
“There are 19 billion checks written annually, and businesses receive two-thirds of them. This is motivating businesses to look for mobile tools that allow them to quickly process payments without a trip to the bank, extra hardware or the interchange fees associated with credit cards,” James B. DeBello, president and CEO of Mitek, said in a news release.
“Mobile Multi-Check Capture provides significant value to these businesses and is the greatest innovation since the introduction of [Mitek’s] Mobile Deposit,” DeBello added.
The Mobile Multi-Check tool authorizes employees to process check payments on the go via mobile devices and also includes the following features: fully automated touch-free batch capture through Mitek MiSnap, minimal data entry, single deposit processing for batch checks to expedite payments, enhanced review screen, field flexibility and a modernized API for partners and banks.
Mitek confirmed the Mobile Multi-Check capability will be made available in Dec. 2015.
The company launched its Commerce Mobile Deposit Capture solution earlier this year, allowing Mitek to tap into the B2B side of payments by partnering with payment processing solution provider DadeSystems to allow businesses to take pictures of invoices and checks from their mobile devices to file and deposit them.
Removing friction in the B2B payments space has been a significant focus point for the industry in recent years.
In an interview with MPD CEO Karen Webster last year, Mitek Chief Revenue Officer Mike Diamond highlighted the company’s focus on removing the friction from payment processing.
“We’re all about driving friction out of the mobile channel and using a camera to do that,” Diamond said. “There are a number of ways that phones and tablets are limited. Is it too small? Is it too big? But there are other ways where this technology is incredibly liberating. One that we’re passionate about is the existence of a camera.”
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