Former AdMob execs launch m-payment service 'card.io'

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Card.io, a new startup founded by AdMob veterans Mike Mettler and Josh Bleecher Snyder, has closed a $1 million seed round from angel investors including AdMob founder Omar Hamoui. The card.io solution automatically reads credit card information using a smartphone's camera, enabling merchants to process transactions without swiping the card through a hardware extension or inputting account information. Google acquired AdMob for $750 million. Release