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PayPal acquires mobile payments startup Card.io

John Ribeiro

Wednesday, July 18, 2012 - 09:15

PayPal has acquired Card.io, a developer of technology for using mobile phone cameras to scan credit cards and capture relevant information, the companies said.

PayPal has acquired Card.io, a developer of technology for using mobile phone cameras to scan credit cards and capture relevant information, the companies said.

The financial terms of the deal were not disclosed. PayPal is already using the technology from Card.io in PayPal Here, its mobile payment technology for small businesses and casual sellers that it unveiled in March.

The employees at Card.io will be joining the PayPal global product team in San Jose to help the payment processor "create new experiences to make it even easier for consumers and merchants to use the PayPal digital wallet," said Hill Ferguson, vice president of global product at PayPal, in a blog post on Tuesday.

The current Card.io technology will remain available to developers for use in their own applications, he added. Card.io also said on its website that its SDKs (software development kits), available for Android and iOS, will continue to be available to developers to use in their applications. 

Read the full story by clicking the link below
http://www.computerworld.com/s/article/9229319/PayPal_acquires_mobile_payments_startup_Car d.io
 
Tags: Mobile Payments, Americas, PayPal, Acquisition, Digital Wallet, Card.io

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