NetSwipe involves holding up a credit card to a camera, where its details are recognized by Jumio`s software. The code on the back of the card is entered by PC mouse-clicking or smartphone touchscreen-tapping. Via videostreaming, the credit card details are recognized and verfied. No snapshot image is taken, no data is stored on the computer that is used for the payment.
Jumio has introduced three products for merchants which are set to simplify the online payment process: Netswipe Start, Netswipe Scanning and Netswipe Processing. The technology will soon also be adapted for mobile phones so merchants can accept payments in person by using the phone’s camera.
According to Daniel Mattes, the company`s CEO, cited by American Banker, one merchant has already tested Netswipe and five others have signed up to use it.
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