ZipPay is a new startup that provides a mobile payment service. According to TechCrunch the service targets individuals and small business, allowing them to accept credit card payments using their phone.

Unlike Square ZipPay will not use a dongle to load the cards data onto the mobile phone. It is reported that the company will instead use Card.io, a visual credit card scanner that retrieves the credit cards information automatically when the customer holds its card in front of the phones camera. They ZipPay service will also include a integrate person-to-person payment feature. So far, it is unclear how exactly ZipPay will work. More information will be revealed when the system launches in early 2012.