Jumio Netswipe Review – How To Accept Credit Cards With a Webcam
We’re all familiar with placing orders online. You manually submit your payment information into a form or sometimes several. But a new service called Netswipe from a company called Jumio plans to change all of that.
With Netswipe, customers can pay for things online using their webcam. Specifically, they just hold the credit card up to their webcam, enter their credit card security code and they’re done…the order has been placed.
It’s free to sign-up and begin using Netswipe to accept payments on your website. Integrating it into your website is as simple as filling in some fields and pasting some code on your web pages. Jumio will keep 2.75% of each transaction as their fee for the service.
How do you get the money Jumio processes for you? They send you a check every 30 days. They also keep 10% of your money in a rolling reserve for 180 days. So if cash flow is critical to your bottom line, using Netswipe will stretch you a bit.
That said, Jumio claims that Netswipe is not only more secure than the traditional methods of accepting online payments, but it also provides higher conversion rates (less shopping card abandonment).
Want to try a live demo of Jumio Netswipe? Just click here. It’s a demo site I setup so you can see everything in action (don’t worry, you won’t actually be charged anything).
And if you want to learn more about Netswipe from Jumio, you can visit their website here.
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Hey Dave,
The video keeps stopping at about 53 seconds. This has never happened before.
Thanks
@Charles – Sounds like your browser’s cache is full. You need to clear it. More here:
http://webvideouniversity.com/videohelp.html
Interesting service, thanks for sharing it. The major problems I see beyond the disadvantages you mentioned are that many customers will simply not have a webcam attached and find this frustrating, and that could result in a loss of sales. There needs to be a backup method integrated (I don’t know if I missed that or not).
Amazing how technology is advancing. Thanks for sharing this cool tip. May not be the right choice for everyone but it is an alternative and did open my eyes to another way to allow clients to purchase and/or pay for services. Thanks!
Wow, what will they think of next!
@Sean – Jumio has you covered for letting your customers pay using an alternative method. That’s done automatically if they don’t have a webcam.
@Dave – Thank you very much for sharing this site with us. There has to be a better and faster way to process customers’ payments worldwide without all draconian steps taken by the existing payment processors.
Thanks.
Interesting technology. I’m a bit skeptical that customers will like and/or trust it, but that’s why you’d want to do split-testing on it.
The jumio thing is ousom.
I wish I had something to sell.
Great solution for online payments it will definitely lower the refund rate and the frauds.
That is a clever piece of kit and the fee is not too bad! My question would be are the buying public ready for this?
Interesting option. A few questions, though – how are the Credit Card companies responding to this? In order to accept credit cards, I have to have PCI DSS clearance. Visa and Mastercard are very strict on data collection and transfer. And are we bypassing merchant service accounts? How secure is Jumio? How easily could these transactions be hacked? And it says essentially that Jumio takes out 12.75% of every transaction, 2.75% of which is theirs to keep, and the rest they keep for 6 months! How secure is my money and do I get interest on the amount they hold? And what happens if they go under? What are my remedies? What is the agreement? How is this better than other options?
I will also add that their support is very poor and slow to respond. I opened an account to test on my sites and I can not get answers to questions I have. There is also no back line of merchants, which is a big red flag for me. I do understand the nature of Beta versions, but if you are going to open this up to the general public (not limiting it) which appears to be the case, then you should have the support staff. I also agree with Beth Terry. I have to go though a considerable background check when I opened up a merchant account and here there was nothing like that. Caution!