A new entrant to the m-payment market has developed a technology that means merchants can accept payments by scanning a customer’s credit card details with a mobile phone’s camera.  Start-up Jumio’s service is underpinned by a secure videostreaming technology that turns any cameraphone, or webcam, into a secure card reader, says the company. It claims its service is the first, and only one to date, that enables users to make “at-present” transactions online with their cards in the same way as they do at the point of sale.  In terms of security, the company says no image is kept of a customer’s credit card details and no details are stored on the device used for handling a payment. Initially the company is offering a webcam-based service for PCs. The mobile phone version will follow later this year.

Jumio is the brainchild of Daniel Mattes (pictured) who previously set up mobile VoIP provider Jajah which he sold to Telefonica in late 2009 for US$270 million. He said his new company’s service “bridges the gap” between the security and trust associated with point-of-sale payments and the ease of use that comes with online transactions. He told ZDNet that five large retailers will join Jumio’s rollout although no names have been announced yet. The venture also has some impressive-sounding support. The board includes execs with backgrounds working for Amazon and Google and its backers include Facebook co-founder Eduardo Saverin who invested US$6.5 million earlier this year and will lead its introduction in Asian markets.