Pay and Deposit Checks Remotely via ImageNet Mobile Deposit

Miltek Systems has developed a technology wherein mobile phone users could pay using their mobile phones. This new technology is called the ImageNet Mobile Deposit. Using the ImageNet Mobile Deposit, not only can you pay via your mobile phone, you can also deposit your checks to the bank using only your video camera! The process involves signing up for the service and downloading the ImageNet Mobile Deposit on their phones. When depositing checks, users need to key in the amount and take both sides of the check. When paying bills, however, users need to capture an image of their payment coupon, key-in the amount, and finally, provide the payment date. Both processes will be confirmed via text message. To ensure security of the users, the system has incorporated three layers of security: a PIN number, encryption of data, and a Secure Sockets Layer. Users would need a valid multimedia phone (meaning, a phone with at least 1megapixel camera, mobile internet connection, and video capabilities) to use the service. The company expects ImageNet Mobile Deposit to roll out Q2 '08.