Saturday, June 25, 2011

Card.io: Credit Card Scanning From Your Mobile Phone Camera

Card.io: Credit Card Scanning From Your Mobile Phone Camera -

Clever idea. I wonder why Square didn’t take this route.

Update: One possible reason: retailers get lower card-processing fees from swiping, because the magnetic strip contains extra data not printed on the card, which can prove that the card was physically present for the transaction.

(Via Daring Fireball.)

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