Jumio has introduced a new way for consumers to pay for goods and services online. This time via your webcam. Jumio’s Netswipe technology turns any webcam into a secure credit card reader, letting consumers with a web camera-equipped mobile phone, tablet or computer safely pay for purchases using their credit card. The solution turns a webcam into a secure credit card reader that allows merchants to more easily and efficiently accept payments online.
“Jumio bridges the gap between the security and trust of credit card payments at the point of sale and the availability and convenience of modern day online transactions,” said Jumio founder Daniel Mattes in a blog post introducing Netswipe.
To complete a transaction, consumers briefly hold their credit card in front of their webcam during a secure video stream. The consumer’s details are verified during the video session so there is no need to capture a still photograph or for data to be stored on the computer that is used for the payment.
Jumio’s pre-launch negotiations attracted an impressive list of partners. Facebook co-founder Eduardo Saverin, member of the Jumio board of directors, previously led a Series A funding round of US$ 6.5m and will oversee Jumio’s rollout into the Asian market.
