The Netswipe Mobile Software Development Kit is a fast and easy way to implement reliable credit card capturing into mobile apps. There is no need for extra hardware, and it is available for iOS. Android will follow soon.

Jumio is pumping $5 Million into Start-ups.

“We decided to give away our SDK with $5 Million worth of scanning fees to support young Start-ups and the developer community. Developers are invited to implement the solution to offer a strong feature in their apps.”, explains Daniel Mattes, Founder and CEO of Jumio Inc. Mattes on the motivation behind the developer fund: “Even though we are not a typical Start-up anymore we very much carry the spirit and want to support up and coming enterprises.”

“Have you ever tried typing in credit card details on a mobile phone? Our SDK is a fast and easy way to implement reliable credit card capturing into mobile apps. Users don’t have to type in their card details anymore, they just quickly scan their card.”

More on the Netswipe Mobile SDK can be found here.

Jumio has raised $35.4 million to date. Other Jumio investors include Andreessen Horowitz and Eduardo Saverin, co-founder of Facebook.

Jumio’s patent-pending Netswipe solution turns any camera on a desktop, laptop or mobile phone into a secure credit card reader, allowing merchants to easily and efficiently accept online and mobile payments. Netverify, built with the same patent-pending technology as Netswipe, turns any camera into an ID reader. It is an easy and innovative way for website owners to confirm a customer’s identity in real time.  Jumio launched Netswipe and Netverify last year and recently announced a string of customer deals covering transaction volume of $154 billion.

“We are proud to have the trust and confidence of a major global bank,” said Daniel Mattes, founder and CEO of Jumio. “Citi saw a lot of potential for Jumio to innovate in the payment space. We look forward to further collaboration with Citi from a business development perspective.”

“The Jumio team’s innovative solutions for remote authentication caught our attention as soon as we heard about them,” said Citi Ventures’ Ramneek Gupta. “We believe their solutions have the potential to help the online and mobile banking industry overcome key challenges related to fraud and identity theft.”

“Like Citi, Jumio is working to make remote payments easier and safer for both consumers and merchants,” added Christopher Kay, Global head of Ventures and Incubations at Citi Ventures, “and we are excited to work with the company in developing these leading-edge capabilities.”

Next up? We will be announcing additional commercial deals with customers in the US and Asia later this year.

“We are seeing tremendous interest from the industry, and we are in discussion with almost every significant payment service provider in the States and Europe”, says Jumio founder, Daniel Mattes. As of end of Q1, high profile payment service providers like TSYS, Braintree, Payvision, SafeCharge, Financial Transaction Services (FTS), ccBill, Cardflex and Wirecard have signed reseller and distribution agreements with Jumio. These partners are going to distribute Jumio’s products worldwide, totaling a processing volume of $154 billion. “Jumio’s approach is unique and will set the standard for the future. Partnering with Jumio will also raise our own profile”, explains Yuval Ziv, VP of Business Development at SafeCharge.

Of the staggering $700 billion e-commerce market in the US and Europe, 49% are considered high-risk. Serving this $346 billion industry, which includes segments like digital goods, travel, online retail, gaming and gambling, requires the highest possible level of security. Simplified user experience and heightened security are relevant, not only in high-risk markets, but for the success of any online business. Amongst Jumio’s more than 1700 customers are companies like Western Union, Click A Taxi, Toptal, ICP, Vera&John, Bets4all, Model Citizen Fund and Bitinstant.

Alongside busy business development, Jumio invests significant resources to continuously increase security. Jumio is working closely with research centers and universities all around the world. “Security is the backbone of our industry”, says Mattes. “Sophisticated technology behind any recognition solution is crucial to keep the level of trust we have gained from our customers and partners.” Jumio operates a 24/7 anti-fraud team to ensure secure and swift transactions for both merchants and customers.

Next up? Expanding into the fast-growing Asian market this year. Stay tuned.

Tom Taulli at Forbes explains
How Jumio’s Daniel Mattes Raised $25 Million

Ina Fried at All Things Digital
Jumio Lands $25.5 Million in New Funding Led by Andreessen Horowitz

Darrell Etherington at BetaKit
Jumio Raises $25M, Turns Webcams Into ID Readers

Bloomberg‘s Danielle Kucera writes
Jumio Valuation Said to Be $100 Million After Andreessen Funding

Boonsri Dickinson at Business Insider asks you to
CHECK THIS OUT: Your Webcam Can Read Your ID Card To Verify Your Identity

Bill Klump at Daily Disruption,
Jumio Launches Netverify and Closes $25.5 Million Investment Led by Andreessen Horowitz

At FierceMobileContent, Jason Ankeny writes
Jumio launches Netverify, boosted by $25.5M Series B round

FinSMEs
Jumio Closes $25.5M Series B Funding

Dan Primack at Fortune,
Venture capital deals

Trevor Gilbert at PandoDaily,
Jumio Raises $25.5 Million

The Paypers
Jumio secures USD 25.5 mln in Series B funding round

Jonathan Marino at PEHub,
Jumio’s Great and Powerful Backer Revealed to be Andreessen Horowitz

Stephen E.F. Brown for San Francisco Business Times,
Jumio Raises $25 Million

Lisa Sibley for the Silicon Valley Business Journal,
Jumio raises $25.5M in Series B funds

SiliconTap writes
Jumio Lands $25.5M

Shane McGlaun at SlashGear,
Jumio lands $25 million to make web cams read IDs

TechCrunch has Leena Rao
Payments Company Jumio Raises $25.5M From Andreessen Horowitz; Will Hit $100M In 2012 Revenue

Bambi Francisco Roizen for Vator News,
Jumio backed by Andreessen Horowitz; targets $100M rev

Sean Ludwig at VentureBeat,
Jumio grabs $25M from Andreessen Horowitz to help merchants take credit cards via webcam

and from the Wall Street Journal
The Daily Start-Up: Andreessen Horowitz Backs Video Co. Jumio

Thank you very much for your continuing interest in Jumio. Stay tuned for more.

Today we are announcing the close of $25.5 million in Series B funding.
Andreessen Horowitz led the round and General Partner Scott Weiss joined Jumio’s board of directors. Jumio’s earlier investors include Eduardo Saverin, co-founder of Facebook, TIBCO Software Inc., a global leader of enterprise software solutions and Peng T. Ong, board director at SingTel, founder of Match.com, Interwoven and Encentuate. Jumio was founded by Daniel Mattes in 2010 and has raised $32 million to date.

Jumio’s patent-pending Netswipe solution turns any webcam into a secure credit card reader, allowing merchants to easily and efficiently accept payments online, making it the first and only solution that enables online card-present transactions.  Additionally, Jumio offers a solution for mobile phones and tablets.
Jumio will use the new funding for team growth and product development.

Verifying a user online – Jumio introduces Netverify

Today we also unveiled Netverify, the company’s newest product for online merchants.
Built with the same patent-pending technology as Netswipe, Netverify turns any camera into an ID reader. It is the easiest way for website owners to confirm a customer’s identity in real time. Netverify eliminates the need for consumers to scan and fax copies of their ID. Instead, they simply hold their ID up to a camera (webcam, mobile phone, tablet), Netverify scans it and the merchant gets an instant verification.
Netverify is designed as a stand-alone tool when an online identification of a user is necessary or as back-up security measure in the sensitive online payment space. With Netverify users do not need any additional hardware.

“Netswipe has been very well-received in the market and Netverify is already making a difference for our customers. There is a real need for seamless, accurate and secure online payments and the possibility to identify a person online. Andreessen Horowitz’ confidence in and involvement with Jumio is a strong indicator of its potential for the market.” – Daniel Mattes, founder and CEO, Jumio.

“Daniel and the Jumio team understand the challenges facing online merchants when it comes to battling credit card and identity fraud because they’re dyed-in-the-wool entrepreneurs themselves and they have encountered the problems that Jumio aims to solve. Jumio’s technology is a huge leap forward for online payments with potential to transform even more industries.” – Scott Weiss, general partner, Andreessen Horowitz

“I am excited to be part of this company. Jumio’s approach is both technologically disruptive and user-friendly in a payments market which is desperate for consumer centric innovation.” – Eduardo Saverin, Facebook co-founder and director on the board of Jumio.

UK flagship The Times published a 20-page report on the future of payment today. Jumio is featured as one of the 10 hottest start-ups.

The promising start-ups on that exclusive list are seen as “operating in the right market at the right time, that could go on to eastiblish themselves as the Google and PayPal of tomorrow. [...] looking to make a big impression.”

We are working hard on leaving a lasting impression in the payment industry. Thanks for the mention, Times.

Introducing Netswipe Form and the Netswipe Fraud Detection Suite!

Scanning the credit card with your webcam is revolutionary and it is what Netswipe stands for. Our new Netswipe Form now also allows the customer to type in credit card details the traditional way – neccessary when device or software restrictions don’t allow the use of a camera.

(Click to enlarge)

Secondly we developed an elaborate management tool that allows merchants to set security measures in the payment system, depending on transaction volume or behaviour. For example, if you want to ask for extra verification for more expensive purchases, you can now ask your customers to additionally scan their card. Or you can set a maximum number of transactions. Or limit the amount. Or restrict… well, the list goes on. We have defined seventeen different parameters that you can individually set. We are calling this the Netswipe Fraud Detection Suite.

We put extra information, including detailed implementation guides, on our website. Check out the new Netswipe today.

Daniel used the prestigious event to introduce and demonstrate Jumio’s newest and as of yet finest product, Netswipe Mobile, in front of more than 2,000 attending guests and a global audience of more than 1mio people.

Netswipe Mobile is the first app that turns a phone into a card reader – a process that requires no extra hardware. Merchants will be able to accept credit card payments wherever and whenever they want to.

Netswipe Mobile will be available on the Jumio website and from app stores on Oct 28th. You can pre-order the app here.

Here are a few pretty good write-ups on the Netswipe Mobile presentation.

Venture Beat

ReadWriteWeb

PC World

“Netswipe” turns any webcam into a credit card scanner
Higher conversion rates, reduction of purchase cancellations

ASCHEIM, Germany, October 12, 2011: Wirecard AG is exclusively offering shop operators a new function on its Wirecard Payment Page starting immediately. Jumio’s Netswipe solution turns any webcam into a credit card scanner. Online merchants benefit from higher conversion rates and a significant reduction in card fraud. Online payments are also even simpler for consumers as the manual input of card details is not necessary. Wirecard is the only payment service provider to support this tool for shop operators who have existing card acceptance contracts.

Daniel Mattes, founder and CEO of Jumio, which is headquartered in Mountain View, California, commented: “Our Netswipe solution transforms any computer with a webcam into a card reader. This means that users no longer have to input long credit card numbers, with the risk of error that this entails, and traders can rest assured that the buyer’s card is physically present, just like at a point of sale.”

Roland Toch, Wirecard CEE’s managing director who played a key role in the negotiations, is very pleased with the strategic alliance: “We offer pioneering payment processing technology, and Netswipe supplements this perfectly. Rapid integration into our payment point is really simple. Traders and consumers don’t need any additional software, the number of purchases that are broken off is minimized and the risk of fraud is slashed, as the card has to be presented during the transaction.”

Online merchants can integrate the new function for credit card scans immediately via the Wirecard Payment Page. The service supports Visa, MasterCard, JCB, Diners Club and American Express credit cards.

Netswipe is built on refined technology: All standard webcams with VGA resolution can be used as a card reader in future. The camera analyzes the physical credit card and verifies this in real time. Card holders only have to approve the transaction by entering the security code number. This does not affect the additional security and authentication mechanism 3-D Secure of Visa and MasterCard.

You can find more information at

http://www.wirecard.at/en/credit-card-scan/

About Jumio:
Jumio offers an advanced technology that increases security and ease of use for online credit card payments. Jumio is the inventor of Netswipe, a patent pending solution that turns a webcam into a card reader. Netswipe is online card present transaction.
Jumio’s advisory board includes Zain Khan, former Google executive, Mark Britto, former Amazon executive, Thomas Jungreithmeir, managing director of TJP and Björn Evers, former gaming industry CEO. Facebook co-founder Eduardo Saverin has a seat on the board of directors.
Jumio Inc. is headquartered in Mountain View, California and operates a development center in Linz, Austria. The company was founded in 2010 by Daniel Mattes and employs 35 people.
http://jumio.com

About Wirecard:
Wirecard AG is one of the leading international providers of electronic payment and risk management solutions. Worldwide, the Wirecard Group supports over 12,000 companies from a wide range of industry segments in automating their payment processes and minimizing cases of default. Wirecard Bank AG is a Principal Member of Visa, MasterCard and JCB and operates as a credit card acquirer in 69 countries around the world, involving over 100 transaction currencies and 18 payout currencies. Part of the Wirecard Group, Wirecard Bank provides innovative solutions in the fields of corporate banking, prepaid and co-branded cards, along with account products for both business and private customers.

Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI).
http://www.wirecard.de |  http://www.wirecardbank.de |  http://www.mywirecard.com

http://www.wirecard-cee.com