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Mitek Systems, Inc. Message Board

  • mobilestocktrader mobilestocktrader Feb 16, 2013 11:51 PM Flag

    Threat to MPBP

    NACHA supporting qr codes is a threat to MPBP

    Sentiment: Sell

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    • Reason is NACHA is pushing for all bills to have qr codes after which no one will need Mitek's MPBP

      • 1 Reply to mobilestocktrader
      • This might help you (Note Jim DeBello's comments on the subject):
        Digital Transactions, February 2012
        M-Commerce: Mobile Commerce’s Next Step
        Feb. 1, 2012

        Photographing a barcode is similar to the currently more common practice of snapping a picture of a QR code, which is automatically read by the phone’s browser, then connects the shopper’s phone to a mobile Web site via a URL string embedded in the code.

        In the case of making a transaction at the point of sale, a QR code can be photographed, which then connects the shopper via the phone’s browser to a checkout page. The consumer is then prompted to complete the transaction.

        Mobile-payments experts predict banks initially will leverage the phone’s camera to capture barcodes and QR codes to facilitate mobile bill payment before applying the concept to the point of sale.

        Indeed, some billers are starting to include barcodes and QR codes on invoices that when imaged take the consumer to a landing page where they can pay their bill. Consumers can either enter the number of the account from which they wish to pay the amount due, or, in the case of a recurring bill, select an account on file and click the pay button.

        “Cameras can be used in place of keyboards for certain functions, such as payments,” says James DeBello, president and chief executive of Mitek Systems Inc., a San Diego-based provider of mobile-imaging solutions. “Snapping a photo of a barcode simplifies tasks that require keyboard entry.”

        As mobile users get used to scanning QR codes to pay a bill, it won’t be long before the concept is modified to enable payment at the physical point of sale, predicts Roam Data’s Graylin. Mobile users would open their digital wallet and create a single-use payment token for the amount owed that appears on the phone’s screen. The token, which could be a QR code or barcode, would be scanned and a digital receipt uploaded to the consumer’s mobile wallet.

        “The physical and virtual point of sale are converging,” says Graylin. “Scanning a payment token is really no different than scanning a digital coupon off a phone at the point of sale.”

        Sentiment: Strong Buy

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