Not much is known about the company to date, and this is its vague pitch on the website:
“You buy. You sell. And Jumio is making everything in between a lot easier.”
Tom Foremski met with Mattes earlier this year and believes Jumio will become one of the hottest startups of 2011.
According to Foremski, Mattes has figured out a way to make secure digital payments that cannot be hacked. Mattes said he discovered a patent filed by two engineers based in Israel and acquired it for several hundred thousand dollars:
This technology will make it possible to provide payments services at a far lower rate than the credit card companies because the risk of fraud has been removed. Jumio is currently working on the infrastructure for the payments system but it will also license its technology to large retailers such as Amazon to run on their platform.
He won’t yet say how he can guarantee that his payments systems cannot be defrauded — but I’m looking forward to finding out.
Enjoy and happy holidays.
Jumio® Inc. offers next generation online and mobile credit card payments validation and ID verification products for e-tailers, financial institutions, online marketplaces 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 core vision technology is currently applied in two product lines: Netswipe® supports real-time credit card scanning and validation in online and mobile checkouts. By...