By contrast, paper bills don’t have standard formats.
Bob Roth, managing director of Cornerstone Advisors, a management consulting firm for banks and credit unions, says he’s skeptical about mobile photo payment technology catching on because the payments aren’t made instantly.
With the technology, details from a bill’s tear-off stub — the part of the bill that you’d stuff into an envelope — automatically pop up in the appropriate data fields on the screen of a mobile device.
That information then appears in the customer’s bank-operated system for online bill paying, although users may need to rekey some data if the software reads it incorrectly. The big benefit for many people is that they don’t have to manually input a lot of the data from a utility company, credit card company or other payee to get started with online bill pay.
But even though we have Google Wallet, Apple Pay and, soon, Samsung Pay, there are still many phones lacking NFC and the other internal tech that makes mobile payments possible.Effective September 1, 2017, the CDL Road Test Lot will be permanently closed.