Use your Webcam as a Credit Card Reader

Which Laptop doesn’t come with a decent webcam these days?

I am sure 99% of us would say “none”. so to help you make your online shopping and payments easy, and to make the best use of functionality of your webcam, US based  payment startup Jumio had come up with a new technology that enables you to use your webcam as a credit card reader.

The patented technology called as ‘NetSwipe’ uses secure video streaming to recognize and verify credit card information. Hold a credit card up to the camera, wait for it to initialize and then enter the 3-digit CVN number. that’s it! you are done with your shopping and secure payment.

With the failure of the keyboards that are fitted with credit card reader, we will have to just wait for a while to see how much this new technology will get into the day to day life.

Fair chances that it will succeed as it doesn’t require users to buy any new hardware and the entire process is totally secure. ( I don’t think I will need to explain about the key loggers and cookie tracking tools that are being used to capture users  information, when they key-in the information like credit card numbers etc. )

Jumio introduces Netswipe from Jumio Inc.