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Papaya raises USD 50 mln to offer a way to pay bills via its app

Thursday 16 December 2021 13:51 CET | News

US-based payment app Papaya has developed technology to give people a way to pay bills outside of traditional methods, such as through the mail, over the phone or via a Web portal.

The company’s mobile application lets users take a photo of any bill and then its artificial intelligence-powered ‘bill-understanding technology’ makes sure it gets paid (after a user has provided payment details).

Company officials stated that as long as a biller has an electronic payment method, anyone can submit payments through Papaya’s app. They added that in this respect, the US has been an anomaly, with only 3% of bills being paid by a mobile device.

The goal of the company is to minimise Americans’ bill pay stress by making it easy to pay any bill with their mobile device. It also claims to help businesses of all sizes in all industries as well as governments and municipalities get paid faster and more often.


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Keywords: mobile payments, product upgrade, artificial intelligence, payment methods, funding
Categories: Payments & Commerce
Companies:
Countries: United States
This article is part of category

Payments & Commerce