Jumio turns Web cams into ID scanners

Venture Beat reports.

Jumio's main focus is to help retailers process credit card transactions quickly and securely using Web cams. Its Netswipe technology lets consumers show their credit cards to a Web cam to get details instead of typing them in. Jumio can detect what type of material is being scanned, so a photocopy of the credit card will not work.

According to Tech Crunch, the benefit to Netswipe is that it minimises the time between a customer's decision to purchase something online and making a transaction, cuts down on the friction of entering credit card information and reducing fraud.

The technology also comes with a complementary mobile solution, which works similarly to the Web platform.

“It's not only about credit card scanning, there's also huge demand for ID scanning,” Beta Kit quotes Daniel Mattes as saying.

“Scanning a passport and sending it via e-mail or fax somewhere, or scanning a driver's licence or utility bill, all these procedures are so expensive for the merchant.”