PayPal has acquired payment startup card.io, the company announced Tuesday. The deal’s terms were not disclosed.
Card.io has created mobile software that lets consumers use their smartphone cameras to scan credit cards for information, simplifying the process of loading those cards into a digital wallet.
Many mobile payment application developers have partnered witih card.io to utilize its card scanning software, and according to PayPal’s Hill Ferguson those developers will continue to be given access to card.io’s technology after the acquisition closes.
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