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Jumio Taps Into $154 Billion Processing Volume in Q1; Operates WorldwideJumio Signs Major Processing Partner Deals (April 13, 2012)
MOUNTAIN VIEW, CA -- (Marketwire) -- 04/13/12 -- Things are looking good for Jumio. With last year's launch of Netswipe and Netverify, Jumio can now report an impressive Q1/2012.
"We are seeing tremendous interest from the industry, and we are in discussion with almost every significant payment service provider in the States and Europe", reveals Jumio founder, Daniel Mattes. As of end of Q1, high profile payment service providers like TSYS, Braintree, Payvision, SafeCharge, Financial Transaction Services (FTS), ccBill, Cardflex and Wirecard have signed reseller and distribution agreements with Jumio. These partners are going to distribute Jumio's products worldwide, totaling a processing volume of $154 billion. "Jumio's approach is unique and will set the standard for the future. Partnering with Jumio will also raise our own profile", explains Yuval Ziv, VP of Business Development at SafeCharge.
Of the staggering $700 billion e-commerce market in the US and Europe, 49% are considered high-risk. Serving this $346 billion industry, which includes segments like digital goods, travel, online retail, gaming and gambling, requires the highest possible level of security. Simplified user experience and heightened security are relevant, not only in high-risk markets, but for the success of any online business. Amongst Jumio's more than 1700 customers are companies like Western Union, Click A Taxi, Toptal, ICP, Vera&John, Bets4all, Model Citizen Fund and Bitinstant.
Alongside busy business development, Jumio invests significant resources to continuously increase security. Jumio is working closely with research centers and universities all around the world. "Security is the backbone of our industry", says Mattes. "Sophisticated technology behind any recognition solution is crucial to keep the level of trust we have gained from our customers and partners." Jumio operates a 24/7 anti-fraud team to ensure secure and swift transactions for both merchants and customers.
Jumio is expanding its operations into the fast-growing Asian market this year.
Jumio is applied computer vision technology. With computer vision, devices are able to read and understand information out of an image, captured by a connected camera. Jumio's technology is designed to make everyday life easier, quicker, smoother. Jumio Inc. is headquartered in Mountain View, California and runs offices in Austria, India and Russia. The company was founded in 2010 by Daniel Mattes and employs around 50 people. Jumio has a total funding of $ 31.5 million to date. More on www.jumio.com. Jumio's advisory board includes Zain Khan, former Google executive, Mark Britto, former Amazon executive, Thomas Jungreithmeir, managing director of TJP and Bjorn Evers, former gaming industry CEO. Facebook co-founder Eduardo Saverin and Scott Weiss, General Partner at Andreessen Horowitz, have seats on the board of directors.
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