PayPal officially announced about its acquisition of Card.io. The company aims to facilitate its users and merchants to make their payments using PayPal digital wallet.
The mobile commerce startup (Card.io) which is founded by two AdMob employees earlier this year allows its user to accept a credit card payment(s) by just scanning the credit card with his/her mobile phone’s camera.
But wait, this facility is not free. It would charge its user 3.5% plus $0.30 for each of their transaction.
Square and Google Wallet are two direct rivals of PayPal, with the recent acquisition we can conclude that the later company has moved one step ahead in this competition of e-payments.