Jumio launches BAM Checkout credit card, identification scanning technology

Wednesday 22 October 2014 11:20 CET | News

Jumio, a US-based online and mobile payments and credentials management company, has introduced BAM Checkout.

BAM Checkout, a credit card and identification scanning technology for mobile retailers, provides a frictionless checkout experience by enabling users to bypass nearly all manual key entry when completing a mobile purchase.

With BAM Checkout, users looking to transact on mobile simply tap the “scan info” button embedded into the checkout page and successively hold their credit card and front or back side of their driver license up to their smartphone camera. To ensure security, no photos of credentials are taken or stored on the smartphone.

BAM Checkout offers an anti-fraud tool that crosschecks the name on the credit card with the name on the driver license and immediately flags any variances. Merchants use this information to boost their existing transaction authorization procedures. This has a marked effect on reducing fraud-related chargebacks.

Jumio is a payments and ID software-as-a-service company that uses proprietary computer vision technology to reduce mobile/online payment and ID friction and fraud. The company was founded in 2010 by CEO Daniel Mattes and is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder, Eduardo Saverin. Jumio operates globally with offices in the US, Europe and Asia.

For more information about Jumio, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.

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Keywords: Jumio, BAM Checkout, frictionless m-payments, mobile payments, online security, credit card, identification scanning
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events