According to the source, Card.io’s mobile payment service for iOS and Android uses a smartphones built-in camera to charge funds by scanning a credit card. When making P2P payments, Card.io users need to scan the card using the app and then enter the recipient’s e-mail address to send them a receipt. The money is transferred to either their bank or PayPal account within seven days.
Card.io has also updated its mobile SDK which previously only scanned credit cards. The new SDK provides developers with access to an end-to-end service, without the need to have their own merchant account and payment gateways set up, the same source explains.
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