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Groupon is apparently looking to enter the lucrative (and ever competitive) mobile payments market. According to some source, the daily deals site is testing a Square-like service in the Bay Area, providing select merchants with a card reader and iPod Touch (whereas other companies are offering a card reader, only).
The pricing is extremely aggressive, with Groupon charging 15 cents + 1.8% per transaction or 2.7% for AmEx card transactions. That’s considerably lower than Square’s 2.75% and PayPal Here’s 2.7%, hinting us they have bold plans for this business unit.
As far as I’ve understood, the system is in a private beta test and Groupon’s representatives declining to comment on the new service.
When mixed with Groupon’s existing deals service, the company may have a solid plan, earning money at multiple points – both when customers are buying a coupon and when visiting restaurant, bar or wherever they happen to be going as a result of their coupon purchase.
Sounds like a plan, though I’m not sure it will be enough to significantly grow Groupon’s business and meet shareholders’ expectations. We’ll see…
[Via: VentureBeat]
About The Author
Dusan Belic
Dusan has been using smartphones since their introduction and is now following the latest trends in the industry. The "convergence" is what he's most excited about, and writing about it is the next logical thing to do. He thinks that using a smartphone is what everyone who cares about their time should do. In addition to his interests in mobile phones, Dusan also loves to experiment with the latest web and mobile 2.0 services. The idea of accessing and managing your information from any device no matter where you are simply amazes him. Whether it's an online to-do list, note taking service or a video sharing social network, he's there to try it out. He admits though, he's still searching for the ultimate web-based organizational tool, which "sings" perfectly with the mobile PIM application. Dusan used to run SymbianWatch.com which later became part of IntoMobile. He lives in Serbia, South-East Europe, from where he edits the site on a daily basis.
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