On 2nd June 2014, CardFlight – a company that enables developers to integrate in-person card payments into their own application – announced that it would integrate their SwipeSimple mobile payments app with Apple’s Touch ID technology.
This announcement came on the same days as Apple announced a preview of the upcoming iOS 8 at their WWDC 2014. It is set to include an API for Touch ID, thus essentially opening up the fingerprint scanning technology to developers such as CardFlight.
"83% of iPhone 5s owners use fingerprint scanner. Now there's an API. Obvious move. Implications for payments," commented Benedict Evans, Partner at Andreessen Horowitz, via Twitter.
- SwipeSimple was launched by CardFlight earlier this year.
- CardFlight stated in a press release, that they will upgrade their applications to support the new technology as swiftly as possible after the release of iOS 8.
- With the upgrade to CardFlight's SwipeSimple product, merchants will have the option of logging onto their mobile payment app by scanning their fingerprint with Touch ID.
- This is a lot faster than the traditional way of entering your email address and password.
"The proliferation of tablets and smartphones is rapidly changing the payments industry," stated the CEO and Founder of CardFlight, Derek Webster, in the same release. "We're proud to be at the forefront of that shift in bringing new and innovative mobile payment technologies to market," he added.
CardFlight, formerly known as LocalBonus, changed its name to CardFlight in August 2013. This company which was founded by Derek Webster was incorporated in the year 2011 and is based in New York. After launching a private beta of services in May 2013, CardFlight raised $1.6 Mn in October, 2013 as seed capital from ff Venture Capital, a VC firm which focuses on early stage technology startups. The other competing venture capital funds and angel investors included Payment Ventures, ApostolosApostolakis, Roundtable Accelerator, Plug & Play Ventures, Great Oaks Venture Capital etc.