Webcams read credit-card details
Created by San Mateo, California-based Jumio, the new system, called Netswipe, not only makes online transactions simpler, but also improves security, says company CEO Daniel Mattes. The company's management team includes Facebook cofounder Eduardo Saverin.
Netswipe prompts a customer to hold up his credit card to his webcam. An on-screen video feed guides the customer to hold it within a template so it can capture the details. "It takes about a quarter of a second to read," says Mattes. To complete the transaction, the customer types in the three-digit verification number on the back of the card.
Source: technologyreview.comAdded: 9 September 2011