PayPal has announced that they have acquired San Francisco based technology company card.io.

card.io offer technology to capture credit card information using camera on smartphones.

PayPal spoke about this deal:

We first met with the team at card.io when we were working on integrating their technology into the PayPal Here mobile app. While working with them, we were simply blown away by the creativity and drive of their employees. They are a passionate and independent team that likes solving large, complex problems and we wanted them to join our team. Great people make great products and great products are what make companies great. The employees at card.io will be joining the PayPal global product team in San Jose to help us create new experiences to make it even easier for consumers and merchants to use the PayPal digital wallet. The current card.io technology will remain available to developers for use in their own applications.