PayPal has acquired a start-up called Card.io, which lets developers read credit card information using a smartphone's camera.
"We first met with the team at card.io when we were working on integrating their technology into the PayPal Here mobile app," said Hill Ferguson, vice president of global product over at PayPal.
"While working with them, we were simply blown away by the creativity and drive of their employees," explained Ferguson. "They are a passionate and independent team that likes solving large, complex problems and we wanted them to join us."
Ferguson says that Card.io's employees will join the PayPal team in San Jose to "create new experiences to make it even easier for consumers and merchants to use the PayPal digital wallet."
Despite the acquisition, Card.io says that its software development kit will remain available for developers to use in their applications.