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card.io credit card scanning business acquired by PayPal

card.io, a California-based company that enables mobile developers to capture credit card information within their apps by using the camera on a smartphone, has been acquired by PayPal.

The two companies worked together on the PayPal Here mobile app, which enables business owners to take payments via their mobile phone or tablet.

In a blog post, Hill Ferguson of PayPal said “The card.io team is joining PayPal for the same reasons that the Zong team was excited to join PayPal last year - to get the opportunity to work on projects that will accelerate innovation at a scale that’s just not possible at a startup. We can’t wait to get them involved in helping us change the future of shopping and payments.”

Software Development Kits from card.io are expected to remain available to developers.

[PayPal blog]

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