PayPal just acquired Card.io, a startup whose technology makes it easy for mobile apps to scan credit cards—a handy feature that saves users the time it takes to enter a 16-digit card number.
We don’t think Card.io’s card-scanning feature is that earthshaking. But we think it’s a positive sign that PayPal is snapping up startups—especially, as PayPal executive Hill Ferguson writes, to bring on their “passionate and independent team.”
Ferguson himself came to PayPal through its acquisition of Zong last year, and Zong CEO David Marcus now runs PayPal.
PayPal has needed an injection of startup talent from top to bottom, as competitors like Stripe and Square nibble away at its best growth opportunities. Stripe, in particular, has wooed developers who want to add payments to their Web services.
It’s significant that Card.io is used in apps from startups like Uber and TaskRabbit: PayPal needs people who know how to build services that appeal to other developers.
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