Card.io Offers Shop But No Swipe App

Do you feel good to run to your friend’s place to borrow some bucks? Have you heard of something called M-Commerce but not sure when you would get a chance to use it ? Anyways, Card.io has recently developed an application that runs on both Android and iPhone, lets users to pay for a cause just by holding their credit card up to the phone’s camera. Rest all the processing tasks are dealt by the phone. This technology seems to be the best solution for person-to-person payments, paying utility bills, gas bills, borrowing money and lots more.

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However this does not violate the actual meaning M-Commerce, explains Mike Mettler, former AdMob employee, presently Card.io founder and CEO.  Basically, entering long credit card numbers into a tiny mobile screen sometimes gets very difficult and to overcome this, Card io’s payment solution aims to speed up the input process for the users. Instead having to type long numbers manually, the Card io app just figure outs the number using advanced machine viewing technologies owned by Card io.

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In a nutshell, after scanning the card, users need to enter their friend’s email address to post them a receipt and thus transferring money to their bank accounts within 7 days. In addition, this app is free to avail without any monthly charges but with a negligible 3.5% plus $0.30 per transaction as tip. With this new consumer-facing application, Card io wants to be in the list of strong contenders in the market including Venmo, Qthru, Newegg, Spotze, EventDay, TaskRabbit, Ambut, InvoiceASAP, WillCal who have already integrated with the Card io solution.

Finally, the new mobile applications are out in the market and ready to be downloaded for iPhone and Android devices.

Source: No More Swiping: Card.io Launches New Consumer App, Developer Tools Which "See" Your Credit Card • TechCrunch