Card.io Uses an iPhone's Camera to Read Credit Cards

A start-up called Card.io today announced a new way to ease the pains of mobile commerce. Card.io is offering an iOS software developers kit (SDK) that uses "visual swipe" technology to capture credit card data using the camera of an iPhone. Card.io believes that its software solution for mobile payments will be easier to implement than hardware solutions (such as NFC of external credit card readers) since it can be added to any application. Once a user is ready to make a purchase from a Card.io-enabled app, they simply hold up their credit card and the app does the rest. There's no need to type in credit card numbers, expiration dates, etc. According to Card.io, the application never saves credit card numbers, and all transactions and data are encrypted. Card.io is being run by two former AdMob employees, and today it also announced an initial $1 million round of funding.

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