Jumio is a company developing some innovative image recognition technology. Last year they launched their first product, Netswipe. It could shake up the way payments are taken online.
Netswipe is a technology that allows Internet retailers to process payments by having customers ‘swipe’ their credit cards using virtually any webcam. Jumio’s technology reads the card details rather than the user having to type them in.
In a world like e-commerce where conversion rate can be critical, this could make the difference in helping a few extra customers complete their purchases. I, for one, haven’t yet seen this technology being used ‘in the wild’ yet, though. Have you?
Anyhow, it’ll be exciting to see where this technology goes next. Jumio have just raised $25.5 million of new funding, so I’m expecting more exciting things from them in the future.