Malauzai's Picture Pay, which allows users to pay a bill simply by snapping a picture of it with a mobile device, and the company's traditional Bill Pay have been growing at a healthy pace.

That's according to the Austin, Texas-based mobile and internet banking provider's Monkey Insights little data report, which takes big data and breaks it up into digestible factoids. Malauzai gathered the information from more than 60 credit unions and banks, covering seven million logins from 400,000 active internet and mobile banking users.

The report's key trends included the following:

  • Approximately 3.7 times more financial institutions offer Bill Pay than Picture Pay. However, the statistics did not account for the overlap of credit unions and banks offering both.

  • Picture Pay growth is trending at 37% annually, and Bill Pay is growing at 48% year over year. However, the monthly growth rate for Picture Pay users is a bit higher, at approximately 2.5% compared to traditional Bill Pay user growth of about 2.2%.

  • Consistently across the two features, the average payment amount for iOS users (iPhone/iPad) is about 20% to 25% higher than their Android counterparts.

  • End-users are making an average of 3.158 picture payments a month compared to 3.501 bill payments per month. Even with 3.7 times more users, the number of bill payments per month per user is not significantly higher than those made using Picture Pay.

Malauzai noted as more users shift to mobile-only use, financial institutions are realizing the need to offer multiple payment options across devices and leverage full payment functionality that is convenient and intuitive.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).