Munich, 2 December 2021 – Gini, the leading company for data extraction from documents, registered 5,038,869 photo payments via its well-known and smart Photo Payment in November, across all banking institutes. It’s the first time that the company recorded more than five million payments within one month.
Gini Pay Photo Payment is using artificial intelligence and has been developed by the company itself. Available since 2013, it is integrated into the most important German consumer banks and enables users to transfer money quickly and easily.
Online boom increases use of photo payments
The online boom triggered by the Corona pandemic is also evident at Gini and boosted the number of photo payments: Since the beginning of 2020, the monthly usage has increased by 128 percent. On average, each user makes 2.2 photo payments per month. The usage has a positive effect on customer loyalty to the banking app and thus on the bank itself. “We anticipate a continued strong increase in the usage figures of our photo payment and expect a continuous annual growth rate of 65 percent,” said Holger Teske, co-founder and CEO of Gini GmbH.
Simple and fast application
Whether it’s through a photo, via QR code, or direct sharing of a digital document with the banking app, the Gini Pay Photo Payment extracts the relevant payment information such as IBAN, sums are being extracted from the document, and the form fills automatically. Users only have to release the transfer – tedious and time-consuming typing of data is no longer necessary.
The Gini Pay Photo Payment convinces leading German banks: it delivers very high extraction quality, speed, and security, and is therefore used by more and more bank customers. Gini is subject to the strictest data protection requirements and certified according to ISO 27001. In the summer, the company also received the certifications Software Hosted in Germany and Software Made in Germany, awarded by the Bundesverband IT-Mittelstand e.V. (Federal Association of IT Mittelstand). Among others, they prove the security and user-friendliness of the solutions.
“Reaching the milestone of five million photo payments in one month makes us very proud,“ said Teske. “This high number proves that our product is more than appreciated by many users because of its reliability. We make everyday life easier for many people with the photo payment – which is in line with our vision.”