Daniel Mattes is going to change the way you pay and verify your identity online. And all he needs is for you to hold your ID up to your webcam.
Mattes’ company Jumio is formally introducing Netverify, which turns any device into a personal ID reader. It’s like Jumio’s previous product Netswipe, which can turn any device into a credit card reader — all by using the webcam on your computer.
“Our solution is best for the Russians who are highly affected by fraud. Gaming and gambling are strong in Europe… so that’s where we have been test driving our product,” Mattes said.
Today, the product is launching in the United States.
Mattes adds that if you pay with your webcam, your credit card details are never stored on your computer — making it much more secure to use than methods that require the user to type in numbers.
Jumio also announced today that it has raised a series B round of $25.5 million from Andreessen Horowitz. Facebook cofounder Eduardo Saverin led a series A round for $6.5 million last March.
Andreessen Horowitz venture capitalist Scott Weiss, who is taking a board seat at Jumio, wrote in a blog post regarding the investment: “One of my partners, Jeff Jordan (formerly the president of Paypal), exclaimed after meeting with Jumio, ‘I’m pounding the table on this one—I think it will be as revolutionary to online payments as PayPal!'”