The Changing Face of Mobile Commerce through Digital Photos

A recent survey carried out by Mitek, an innovator of mobile imaging for financial transactions and identity, found that the use of the camera on mobile devices is growing. The study commissioned with Zogby Analytics, “Millennials, Selfies and the Changing Face of Mobile Commerce,” reveals why millennials love their mobile devices and specifically their camera. According to the research, every industry can potentially benefit from this trend; as users more and more utilize their mobile devices to snap photos thanks to the point-and-shoot simplicity, which causes new possibilities to open. For example, it is possible to see soon a change in commerce from the written word to a picture-based experience as smartphone cameras evolve, said James B. DeBello, Mitek president and CEO.

Mitek’s findings from the study lead to rethinking the role of the camera on mobile devices. In fact, it can be used to capture information and data as well as perform a variety of  tasks related to banking, commerce, healthcare form processing, university enrollments and, in general, operational efficiency. DeBello believes that “business and banks especially need to offer or enhance their mobile capabilities for picture-based communication if they are going to remain relevant.”

The following are some key findings from the Millennial study regarding the role of the camera on a mobile device:

• 87 percent of Millennials say that their smartphone never leaves their side; 37 percent use the camera on their mobile device at least once a day
• Majority of Millennials say they have used or are willing to use a smartphone camera for check deposits; 54 percent say they would prefer depositing checks by snapping a picture and processing it via a bank’s app
• One in three Millennials want to communicate by snapping a mobile photo
• One in three Millennials say important processes could be simplified taking photos to auto populate data instead of manually entering data

Businesses now understand the power of digital photos; especially younger consumers are calling for a wider use of their phone’s camera not only to take snapshots, selfies and communicate via social media but to also simplify processes by uploading images instead of filling out forms. Snapping a picture and using mobile imaging could help populate data automatically in forms, capture information and even help businesses maximize field workforce productivity and efficiency.

Mitek itself offers its own patented mobile photo technology platform that can help users capture information by simple snapping pictures of documents and extracting personal and financial information automatically. Mobile users can utilize the technology to capture and transfer high quality images on the spot and use the extracted data for banking, financial transactions and a variety of other scopes. Real-time sharing of photos makes it possible for the user to experience a new way to interact not only with other users but also with service providers.

A consumer smartphone camera can be a great problem-solving tool for every industry, noted Mitek. Digital information can be transferred so easily from a camera platform, and the use of smartphone photography is allowing consumers and enterprises to get the most out of today’s mobile technology for everything from social media to commerce.

Thanks to newer mobile imaging technology, the saying is true about “a picture is worth a thousand words.” Digital snapshots offer a picture-based communication method that offers proof of delivery, proof of content, and proof of condition. This adds to the successful ID verification by using photographic systems. In essence, the changing face of mobile commerce is going from words to pictures.