Smart Engines has updated its OCR solution to make it easier for people to complete payments and money transfers online. The solution is built specifically to work with credit cards, and will use optical character recognition to automatically extract payment info from a modern card.
In doing so, the solution will allow customers to fill in forms more quickly when they want to make an online payment. The Smart Engines OCR can read the name on the card, in addition to the card number, the EU IBAN number, and the expiration date. It will then make sure that all of that information will make it into the proper field during the checkout process.
The Smart Code Engine version 1.7.0 is compatible with cards from 21 different payment systems, covering everything from international payment schemes like Visa and Mastercard to more local schemes like Canada’s Interac and China UnionPay. RuPay, American Express, JBC, and Elo are some of the other schemes supported by the solution.
In terms of card type, the OCR can read embossed cards, indented cards, and any free-form cards that simply print the information on a flat surface. That remains true whether the card is designed with a portrait or horizontal layout, and whether the payment information is printed on the front or the back of the card.
According to Smart Engines, the enhanced solution is twice as fast as its predecessor, with a processing speed of 0.035 seconds per frame on a current generation smartphone. The platform has an accuracy rate of 99.68 percent, and can function in adverse lighting conditions, and when the card is captured at a bad angle and is not fully in the frame.
The new Smart Code Engine is compatible with Android and iOS devices, and can support in-app payments and payments in web browsers. Smart Engines noted that the solution has a small computational footprint (a 4.5 MB embedded packet), which makes it well-suited to older devices that do not have as much raw processing power.
Smart Engines has also updated its computer vision platform to support the new biometric IDs that are being rolled out in the EU. The company is working with NEC Colombia to enable remote biometric onboarding in Peru. Royal Caribbean, meanwhile, is using Smart Engines’ document recognition technology to scan the travel documents of people boarding cruises.