U.S. Bancorp, Monitise Unveil Digital Watermark-Based Mobile Shopping Platform (Feb. 18, 2014)
U.S. Bancorp and U.K.-based Monitise plc have partnered to launch a white-label mobile commerce platform dubbed Peri. The platform will utilize digital watermarking software, which enables merchants to embed digital information into audio, images or printed materials, so shoppers can purchase an item by scanning the audio from a TV ad or taking a picture of an item in a catalog or printed ad. The digital watermark enables the seller to know which ad generated each particular sale, and the app stores customer payment and shipping information, eliminating the need to re-enter data at every checkout. Peri also supports QR codes, according to U.S. Bancorp.
U.S. Bancorp—the parent company of U.S. Bank—envisions fashion retailers as among the most likely early users of Peri, but said other types of retailers also could take advantage of the platform to drive sales by further blurring the lines between physical and digital commerce. Other companies are taking a similar approach; last week, Amazon updated its shopping app with a new feature called Flow, which enables users to take photos of items around the house or on retail shelves and have those items automatically added to a shopping list. The items can be purchased immediately or saved for future purchase.
London-headquartered Monitise bolstered its digital payment capabilities early this month with the $32 million acquisition of Istanbul-based mobile technology provider Pozitron Yazilim A.S., which provides mobile money solutions for more than 30 enterprises, including Turkish Airlines, eBay and GlaxoSmithKline.
This isn’t the first time the U.S. Bancorp and Monitise have worked together. In 2011, the companies, along with processor FIS, won a Best-in-Category Paybefore Award for Best Mobile or Virtual Prepaid Application for the U.S. Bank AccelaPay Mobile Banking Application.