SOURCE: Jumio Inc.

August 16, 2012 09:00 ET

App Developers Boost Revenues With Enhanced Jumio Netswipe Mobile SDK

New Version of Payment SDK Now With Boost 20/20(SM) Delivering 20% Revenue Increase With 20 Minutes Integration Time

PALO ALTO, CA--(Marketwire - Aug 16, 2012) - Fast-growing mobile and online payment company Jumio Inc. today announced the release of an enhanced version of its Netswipe Mobile Software Development Kit (SDK) now with Boost 20/20(SM). Adding this payment functionality to an app's checkout process drives a revenue boost of at least 20%, while only taking about 20 minutes to implement. Integration of the SDK is free, and Jumio has allocated $5 million in free scans for qualifying developers.

Enabling customers to scan a credit card in 5 seconds rather than attempting key entry on their mobile devices (taking an average of 50 seconds) significantly reduces customer drop-off at this critical point in the purchase process. Today, nearly half of all mobile transactions are not successfully completed at checkout; however, when customers are offered a card scanning option the payment completion ratio increases dramatically. Additionally, Jumio's enhanced SDK offers improved card reading performance and auto-focus, more security features and branding configurability for merchants. Card scanning is now available for Visa, MasterCard, Diners Club, American Express and Discover cards. 

For developers, incorporating the SDK into their apps is an easy-to-execute process which is supported with complete online documentation. Jumio Founder and CEO Daniel Mattes elaborates: "Implementing the SDK takes less than 20 minutes, and for the revenue-focused developer this brief effort delivers an amazing ROI. We're gratified to see how popular it has become with a wide range of developers."

Jumio supports start-ups and the developer community with 500 free scans per month until the $5 million Jumio SDK Developer Fund is depleted. Larger-volume developers should contact the company to learn more. The Netswipe Mobile SDK is available for download on www.jumio.com.

About Jumio

Jumio® Inc. offers next generation online and mobile credit card payments validation and ID verification products for retailers, financial institutions and governmental agencies. Designed to increase revenue, reduce fraud, and streamline customer experiences, Jumio utilizes patent-pending computer vision technology to validate and facilitate transactions while providing unprecedented levels of consumer convenience and data security. Jumio's Netswipe® enables customers to scan their cards in online and mobile checkout resulting in increased revenue and reduced fraud for the merchants. Netverify™ supports real-time ID verification in over 60 countries to help clients meet a variety of know-your-customer requirements. The company was founded in 2010 by CEO Daniel Mattes and is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder, Eduardo Saverin. Headquartered in Palo Alto, California Jumio operates globally with offices in the US, Europe and Asia.

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