PayPal Acquires Card.io to Bolster Mobile Payments

PayPal recently announced that it has acquired Card.io, a San Francisco company that lets businesses capture credit card information using a smartphone's camera. The employees at card.io will join the PayPal global product team in San Jose, where PayPal expects it will help the company develop better ways for businesses and consumers to accept/use smartphones for making mobile payments. PayPal said that Card.io's technology will remain open and available to developers to use in their own applications. Terms of the deal were not disclosed.

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