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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