PayPal startup into its smartphone wallet

Ebay-owned online financial transactions titan PayPal announced that it has bought a San Francisco start-up focused on using smartphone cameras to take credit card payments.

PayPal has worked with Card.io to fold its technology into its own mobile application and decided to buy the company, according to PayPal vice president of global product, Hill Ferguson.

`We were simply blown away by the creativity and drive of their employees,` Mr Ferguson said in a blog post. The financial terms of the deal were not disclosed.

bdST 2040 HRS, JUL 19, 2012

Edited by:
Sabbin Hasan, ICT Editor