Card.io, a start-up that launched a mobile credit card scanning tool in June, is seeing a strong amount of developer support with 80 iOS apps using its tech to improve mobile payments and transactions. Now, the company is bringing the technology to Android and is hoping to see similar success.
Started by former Admob employees Mike Mettler and Josh Bleecher Snyder with $1 million in seed funding, San Francisco-based Card.io is trying to make it easy for companies get in on mobile payments and mobile commerce. Developers who integrate Card.io’s SDK can enable their users to scan a credit card using their smartphone camera, and the information can then be used to securely complete a transaction.
Card.io said more than 750 developers have signed up to use its technology across a number of verticals, including e-commerce, local, retail, ticketing, travel, and daily deal apps. Mobile payments start-up Venmo; Merchant Billing, a billing and payments company; and Qthru, a retail application, are all early users of the Card.io technology.
Card.io is backed by Michael Dearing of Harrison Metal, Jeff Clavier and Charles Hudson of SoftTech VC, Manu Kumar of K9 Ventures, Alok Bhanot, the former VP of Risk Technology at PayPal, and Omar Hamoui, the former CEO and founder of AdMob. The company intially said it was looking at charging per scan, but it’s open to striking revenue-sharing license agreements with developers.
As I said when they launched, Card.io is a good tool for developers who want to enable simple transactions. One of the problems consumers have with mobile payments and commerce is entering in credit card information. Being able to scan in credit card data is easier, though it will raise security concerns with some users. Card.io said it uses 128-bit SSL encryption and doesn’t save the credit card data or image. It looks like this is more of a mobile commerce play right now, but it could also be a solution for in-store payments that might eventually go head to head with the just-launched Google Wallet.
For more information on mobile payments, check out GigaOM’s Mobile Conference on Sept. 26 and 27 in San Francisco, where we’ll be discussing where payments are headed.