PayPal has just announced that company is acquiring card.io, startup to make it easy to scan credit cards. Terms of the deal were not disclosed by any company. Android and iOS SDK will remain available for developers. Card.io allows developers to capture credit card data by using smartphone built-in camera. Developers pay $0.15 for every card they scan.
The Card.io team will join PayPal’s global product team in San Jose to help the company in development of mobile wallet with Card.io technology.
Paypal was working with Card.io to use its credit card capture technology in PayPal app. “While working with them, we were simply blown away by the creativity and drive of their employees,” Hill Ferguson, PayPal’s VP of global product said. “They are a passionate and independent team that likes solving large, complex problems and we wanted them to join our team.”
Card.io currently has six employees including company founders. Company was founded by former AdMob employees Mike Mattler and Josh Bleecher Snyder.
