August 24, 2016
Jumio’s Upgraded Netswipe Scans More Card Info, Scans Faster
Nov. 7, 2013
Palo Alto-based Jumio yesterday released the newest version of its scanning technology that uses a smartphone’s camera to identify cards and cardholders, authenticating online and mobile transactions. The company said Netswipe, which leverages the camera to read and automatically enter credit-card information during transactions, now has “near-instant” processing speed. Jumio said the upgrades will eliminate even more friction from mobile transactions, boosting conversion.
“Jumio is committed to helping merchants provide the most secure and frictionless technology for online and mobile payments,” said Jumio CEO Daniel Mattes. “Businesses spend a great deal of money and effort bringing customers to their checkout pages, only to have the majority of these transactions be abandoned on old fashioned, labor intensive checkout forms. Payment friction is the culprit and businesses no longer need to lose sales because of it.”
The process, which used to take five seconds, according to Mattes, now happens nearly instantly. The new version also is able to scan and extract the cardholder’s name, in addition to the 16-digit card number.