Groupon is joining the likes of Square and PayPal by entering the mobile payment scene by offering an update to its Groupon Payments app. The new update provides users a 3.5mm-based card swiper which allows merchants to accept credit cards with a minimal fee.
Groupon merchants using Android devices will have access to some new features, including enhanced security, analytics and ROI tracking. Payment information will be available through the online payments center, which will allow merchants to access data such as daily sales reports, revenue trends, process refunds and add tips to transactions.
“We’re thrilled to bring the powerful features of the Groupon Merchants app and the cost savings and convenience of Groupon Payments to more merchants with smart phones,” said Gene Alston, General Manager of Groupon Payments. “This app is an effective tool for merchants looking to process payments and track customer growth.”
The charges that Groupon Merchants users will face are competitive with many other mobile payment services. Groupon users will be charged a fee of $0.15 plus 1.8% when using Visa, MasterCard or Discover, or 3% AMEX per transaction. Compare that to Square and Intuit, who charge a 2.75% fee per transaction, and PayPal, who charges 2.9% and 30 cents per transaction, and Groupon Merchants seems to be the most affordable of the bunch.
If you are new to the mobile payment scene or are just looking for better rates, Groupon Merchants is definitely worth a look. Although there are more established mobile payment systems out there, (Square, PayPal) Groupon Merchants might make a dent in the mobile payment scene by offering lower rates than it’s competitors and some awesome analytic features.
Press release below
Groupon Releases Updated Groupon Merchants App for Android, v2.2, with Groupon Payments
CHICAGO–(BUSINESS WIRE)– Today Groupon (NASDAQ: GRPN) announced the release of the newest version of the Groupon Merchants app for Android (v2.2), which incorporates Groupon Payments into the platform, offering merchants a better way Phandroid]