Spindle to License Inspire Commerce`s .pay Brand. How is CardSpring detecting a payment transaction at a merchant. MasterCard Product & Services - Documentation. The Woman Who Launched Google Wallet Has A New Job. No More Swiping: Card.io Launches New Consumer App, Developer Tools Which “See” Your Credit Card. Card.io, the toolkit for mobile app developers which lets users pay for items by holding their credit card up to the phone’s camera, is today launching a consumer-facing app.
It’s something like Square, but without the dongle. It’s also not aimed at merchants, as Square is. Instead, the new Card.io applications, available for both iPhone and Android, are meant for person-to-person payments. Splitting lunch, borrowing money, paying for gas – that sort of thing. This doesn’t represent a change in direction for the mobile commerce company, though, explains former AdMob employee Mike Mettler, now Card.io Co-founder and CEO.
For those unfamiliar, Card.io’s mobile payment solution is meant to speed up the process of inputting credit card numbers on the small screens of mobile devices, like smartphones. Digital Payments Innovator Jumio Raises $25.5 Million. Kicking off the new year with a fresh wad of cash: according to an SEC filing, mobile and online payments startup Jumio has raised $25.5 million in funding on top of the $6.5 million it raised from Facebook co-founder Eduardo Saverin – and others – back in March 2011.
Jumio confirmed the financing round but declined to provide more details (which investors participated and what they plan to use the additional capital for) at this time. The startup’s twist on helping e-merchants process card payments digitally is to leverage webcams (and smartphone cameras) to read credit cards rather than making people enter their details or swiping their cards. Its solution, called Netswipe, in other words turns phone cameras and webcams into credit card readers. Jumio was co-founded by Daniel Mattes, who sold his latest company, Jajah, to Telefonica for $207 million.
Mattes is called the “Bill Gates of the Alps” in some parts. Good to see a European entrepreneur swing for the fences once more. eBay Forecasts $8B In Mobile Commerce Volume In 2012; PayPal Will Reach $7B. At his CES keynote yesterday evening, eBay CEO (and new interim PayPal CEO) John Donahoe revealed a number of new mobile payments forecasts for both eBay and PayPal.
Rare Legal Fight Takes On Credit Card Company Security Standards and Fines. Photo: Jim Merithew/Wired.com A small celebrity-friendly restaurant in Utah is finally doing what many merchants have only dreamed of doing for a long time — taking on a part of the payment card industry’s powerful but flawed system for securing card data by fining merchants for failing to secure their data.
Stephen and Theodora “Cissy” McComb, owners of Cisero’s Ristorante and Nightclub in Park City, Utah, have filed a lawsuit against U.S. Bank claiming that the financial institution, which used to process the restaurant’s credit and debit card transactions, wrongfully seized money from the McCombs’ merchant bank account. U.S. Bank seized about $10,000 from the McCombs’ account to pay $90,000 in fines that Visa and MasterCard imposed after alleging that Cisero’s had failed to secure its network and suffered a data breach that resulted in fraudulent charges on customer bank cards. EMV on the way: What to expect in the U.S.
The summer news was hot: Visa announced initiatives to hasten EMV migration in the United States.
Interestingly, while the U.S has been one of the last EMV holdouts in the Western world, Visa’s announcement seems to have been driven as much by the need for a suitable mobile payments infrastructure as by security concerns. The costs associated with EMV migration will, to some extent, be offset by NFC-based mobile communications opportunities, which will require the same EMV-compatible infrastructure. PayPal’s First In-Store, Brick And Mortar Mobile Payments Integration Is At Home Depot.
As we’ve reported in the past, PayPal announced an in-store payments technology both via mobile and point of sale systems that is currently being tested on a ‘friends and family’ basis in a national retailer.
That retailer is Home Depot, we’ve learned from PayPal. PayPal said of the Home Depot announcement: We frequently run trials with our retail partners. In this case, PayPal and The Home Depot are engaged in a limited pilot program for new POS technologies. The pilot is currently being run in five stores and involves a small number of PayPal employees. Gil Luria of Investment house Wedbush Securities also put out a research note today that confirmed that the first retailer is the Home Depot.
PayPal Partners With Point-Of-Sale Software Company AJB To Scale In-Store Payments Option To Big Box Retailers. Exclusive: We’ve received more details on how PayPal will be scaling its in-store payments technology at major retailers.
As we reported last week, PayPal is currently testing the mobile payments and point-of-sale integrations at Home Depot on a friends and family basis, in five stores. Today, we’ve learned that PayPal is partnering with AJB Software, a company that provides point-of-sale software to large brick and mortar retailers, to integrate the online payments giant’s technology into their offerings.