Big injection for the company that turns webcams and smartphones into credit card readers.
TechCrunch has unearthed an SEC filing that revealed the funding on top of the $6.5 million it raised in March 2011.
US-based/Austrian-owned Jumio is trying to do what others – notably Square – have done in taking the ability to read credit cards away from just specialist readers.
While Square does this with a plug-in phone dongle, Jumio's Netswipe system uses the camera. Thus, the merchant trains their camera on the card to register the details automatically.
The user just has to enter their PIN code.
Clearly, the big hope of Jumio is that it can democratise the acceptance of credit cards so that any trader with a smartphone can offer the capability.
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