“Camera phones have pretty much put a crimp in the sale of cameras as most people are happy to trade off photo quality to the convenience of being able to snap a picture and post to Facebook or send to a friend via an email instantly. The quality of camera phones keeps improving, too, so those trade-offs are not really as onerous as they once were.
But there’s one thing that camera phones are breathing new life into – and that’s checks. Who knew? The one form of payment that is in steep decline got a new lease on life thanks to a technology that eliminates the friction associated with depositing a check. Thanks to mobile imaging technology, consumers don’t even have to drive to an ATM to deposit a check – the last real advance in check deposit convenience. All they have to do is snap a picture of it and off it goes to the bank.”
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