PayPal Acquires Smartphone Credit Card Scanning Company Card.io

Posted Jul 18, 2012

PayPal has acquired Card.io, a startup company that manufactures credit card scanning technology for users to make payments through cameras in smartphones.

“The employees at Card.io will be joining the Paypal global product team in San Jose to help us create new experiences to make it even easier for consumers and merchants to use the Paypal digital wallet,” said PayPal’s VP of Global Product Hill Ferguson.

PayPal first met Card.io when they were working on integrating its technology in the PayPal Here mobile app. ¬†Ferguson said that Card.io’s technology will still be available for developers to use in their own apps.