PayPal acquires mobile payments company card.io

PayPal, the popular online payment behemoth, has recently acquired card.io, a company that specializes in developing technologies for developers to capture credit card information using smartphone cameras. In an announcement today, PayPal said that the employees at card.io will be joining the PayPal global product team to work on new products for its digital wallet. However, the details of the deal, including the amount paid, has not been disclosed. card.io was launched in June last year. The San Francisco-based company also confirmed the acquisition via its website.

“We first met with the team at card.io when we were working on integrating their technology into the PayPal Here mobile app,” said Hill Ferguson, Vice President of Global Product at PayPal. “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. Great people make great products and great products are what make companies great.”

Gene Ryan Briones
Categories: General
Tags: paypal