ASCHEIM, Germany, October 12, 2011 /PRNewswire/ --
- "Netswipe" turns any webcam into a credit card scanner
- Higher conversion rates, reduction of purchase cancellations
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.
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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.
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).
Wirecard media contact:
SOURCE Wirecard AG