NetSwipe – Turns the Webcam into a Secure Credit Card Reader.
Every year the banking industry have lost billions of dollars from credit card fraud over the internet, and companies have yet to find a system that is completely safe to deal with. Jumio presents new ways of using credit cards, especially for those of you who frequently use credit cards online, called NetSwipe.
Netswipe is a PCI ready solution that turns any webcam into a secure credit card reader. The computervision technology behind Netswipe reads the card via a secure video stream. Netswipe does not take a snap shot of the card.
Simply by positioning the front of credit cards in front of a webcam, then existing applications will process online payments.
For security, you are also required to enter the last 3 digits (known as the CVV code) is usually printed on the back of credit card and enter using the virtual keyboard to prevent keylogger.
Compared with how to enter data manually, of course Netswipe is much safer but also do not know how far this technology can succeed in the future.