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Thursday, July 19, 2012

PayPal buys credit card startup to improve mobile app

EBay-owned online financial transactions titan PayPal on Tuesday announced that it has bought a San Francisco startup focused on using smartphone cameras to take credit card payments.

PayPal has worked with Card.io to fold its technology into its own mobile application and decided to buy the company, according to PayPal vice president of global product Hill Ferguson.

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