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Payments technology company Jumio has secured an additional round of funding led by a division of Citigroup (NYSE: C).
May 10 -
Few of the security features designed to prove a credit card's validity in the physical world work well online. Jumio, a startup, aims to change that.
July 26
Jumio has released a software development kit to allow programmers to use its credit card scanning technology in mobile apps.
Jumio's technology, called
Jumio's technology verifies a card's legitimacy by using a video stream instead of a still picture. The video stream allows it to examine how features such as the
To encourage use of its technology, Jumio has set up a developer fund to cover $5 million of scanning fees. The fund is meant "to support young start-ups and the developer community," said Daniel Mattes, Jumio's founder and chief executive, in a press release. The fund allows each developer to make
"Developers are invited to implement the [card-reading] solution to offer a strong feature in their apps," he said.
This month,