PayPal Buys Mobile Payment Company Card.io

by Mercator Advisory Group 0

PayPal has bought out Card.io, acquiring their technology that enables consumer capture of credit card information with smartphone’s camera. Card.io’s camera-based technology is faster and simpler than the dongle devices used by mobile payment acceptance schemes, including PayPal Here, as well as Square and Intuit GoPayment.

From a ZDNet article:

Hill Ferguson, vice president of Global Product at PayPal, didn’t offer many more details when he announced the merger…other than the plan that the team will help PayPal “change the future of shopping and payments.”

PayPal has promised that current Card.io technology and SDKs will remain available to developers outside of PayPal.

Click here to read more from ZDNet.