Papaya and Applied Innovation to enable payment methods for ARM

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Papaya and Applied Innovation to enable payment methods for ARM

By Leandra Monteiro

May 05, 2022

  • Customer account management
  • Applied innovation
  • Payment of bills

Papaya, a modern bill payment Platform which uses proprietary computer vision technology to simplify bill paying for consumers, announced its partnership with Applied Innovation, a software development company that provides a suite of solutions for the accounts receivable management industry ( ARM) to automate workflow and improve efficiency. This partnership will allow Applied Innovation to integrate Papaya’s proprietary “Invoice Understanding Technology” into their business customers’ payment portals, allowing consumers to submit payments in seconds by simply scanning an invoice with their mobile phone, thus offering a less stressful and faster solution. intense experience.

“At Papaya, our mission is to ease the stress of paying bills for American families,” said Patrick Kann, CEO and co-founder of Papaya. “We are excited to extend Papaya’s bill payment solutions to Applied Innovation and its business customers, and to increase the number of Americans who can now pay their bills with our simple, frictionless experience.”

Consumers can access Papaya’s frictionless solutions through the Express feature of Applied Innovation’s Business Customer Payment Portal. Papaya has integrated with a number of Applied Innovation customers, including PFC, a full-service customer account management company located in Greeley, Colorado.

“Partnering with Papaya is a tremendous opportunity to streamline the customer account management process,” said Harry Strausser, President of Applied Innovation. “The ARM industry has historically been slow to innovate, but we strongly believe that alternative payment methods like Papaya are the next step in improving the experience for our business customers, as well as everyday consumers.”

“Adding Papaya to our payment portal has given our consumers a quick and easy way to pay their bill,” said Derrik Garhart, Senior Director of Recovery at PFC. “At first, I didn’t know what consumers would think of new technology like this, but the response has been overwhelmingly positive, and papaya is currently used for 50% of all payments on our website. C It’s always great to provide consumers with newer technology, especially more self-service options, and Papaya does just that.

Applied Innovation intends to continue integrating Papaya’s solutions into its commercial customers’ payment gateways as the year progresses. This partnership follows Papaya’s $50 million Series B in December 2021 led by Bessemer Venture Partners. Papaya plans to introduce a number of new features for billers, fintechs and consumers to further disrupt the bill paying experience in the coming months.

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