PayPal acquires mobile payments start-up Card.io
E-payments giant PayPal has acquired mobile payments start-up Card.io for an undisclosed sum.
Card.io is a San Francisco-based company that provides technology for developers to capture credit card information by using the camera on a smartphone.
The company first worked with PayPal when they were integrating the Card.io technology into the PayPal Here app, Hill Ferguson, vice-president of Global Product, PayPal, wrote on PayPal's blog.
"While working with them, we were simply blown away by the creativity and drive of their employees. They are a passionate and independent team that likes solving large, complex problems and we wanted them to join our team," Ferguson wrote.
Card.io's employees will join the PayPal global product team in San Jose, California, to help it create new experiences to make it even easier for consumers and merchants to use the PayPal digital wallet, wrote Ferguson.
The current card.io technology will remain available to developers for use in their own applications.