With the acquisition of the mobile payment start-up Card.io, PayPal has moved forward in improving the shopping experience for consumers and merchants when using the online payment portal. Reported by ComputerWorld, Card.io's technology allows consumers to use their phone's camera to scan their credit cards and capture information automatically.
"It takes the friction out of having to type in your card numbers," says CEO Mike Mettler in an article by Forbes. "It doesn't require any additional hardware."
Here is a simple demonstration on how the technology works – it is really simple — and safe too. The downsides — for now – are that it comes at a cost of 15 cents per scan, and is only applicable for iPhone and Android users. Nonetheless, for the delightful online user experience, it really is a great innovation. According to Our Mobile Planet Research, smart phones penetration in Asia has grown rapidly, and particularly in Japan and China. Additionally, the usage of smart phones for shopping is most widely seen in Japan (100%) and China (97%), in terms of researching for a product or service via mobile phones.
To discover how the mobile commerce scene is growing and how your business can leverage on this wave, join us at Cards & Asia Payments 2013 from 24 – 25 April in Singapore!