New m-commerce platform card.io allows m-payments via smartphone-based credit card scanning

A new based mobile commerce platform dubbed card.io has been launched in the US. The platform allows smartphone users to carry out m-payments by taking a photograph of their credit cards using their handset’s camera.

Once the credit card has been photographed, card.io’s proprietary technology scans the card for the data required in order to complete the transaction. The transactions are processed by third-party payment processors used by the merchant. Once the transaction has been completed, the credit card information is deleted from the smartphone.

According to media outlet pcmag.com, Card.io targets developers by making available to them a software development kit (SDK) that allows the card.io technology be integrated into their codes. Potential uses for the new technology include the development of location-based couponing services or else movie ticketing apps, according to the same source.

Card.io is also reportedly in talks with an as-yet unnamed player active in the field of classified ads with regard to the potential implementation of a mobile payment solution allowing buyers to connect to one-time sellers securely, without having to carry large amounts of cash along with them.