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Catalyst Corporate Launches New Picture Pay Service
Tuesday, October 13, 2015 6:25 AM

During its 38th annual Economic Forum, Catalyst Corporate announced the launch of Picture Pay, a new service that will allow mobile-driven credit union members to simply snap a photo of their bills to initiate payment.

“This new service meets the needs of members who crave convenience and want to eliminate some of the bill-paying hassles,” said Karen Coble, vice president of sales at Catalyst Corporate.

Surveys, including a Javelin Research study conducted earlier this year, indicate that consumers are showing great interest in mobile photo bill payment. The Javelin study reported that nearly one in four Americans paid bills with their smartphones or tablets. Another survey reported that two million U.S. online households pay at least one bill from their mobile phone each month.

The new Picture Pay service offered by Catalyst Corporate makes the bill paying process even easier. “Picture Pay streamlines the payment process by identifying and automating payee set-up, removing the biggest barrier to bill pay adoption: the hassle of entering the payee and account information online,” Coble said.

Catalyst Corporate has teamed with Allied Payment Network and Malauzai Software to offer the mobile bill paying service to credit unions. The service is available as a feature of Catalyst Corporate's complete Mobile Banking with Capture Service (turned on at the app level) or incorporated into Catalyst Corporate's stand-alone Mobile Capture service. 

In addition to the popular automatic payee set-up feature, other key benefits of the service include:

  • The mobile app is password protected.
  • The app can be customized with a credit union’s branding.
  • Members control when payments are made.
  • Picture Pay users have the option to expedite payments for a small convenience fee, which eliminates more expensive late fees for members and generates additional fee revenue for the credit union.
  • Images of paid bills are stored online for future access.
  • Picture Pay is a valuable tool for attracting younger members, many of whom use their mobile devices as their computers.

For more information about Picture Pay, please send an email to contactus@catalystcorp.org.

Catalyst Corporate is an approved five-star business partner of Credit Union Resources, Inc.