Following on from the trials Groupon was conducting back in May for their new mobile payment service along similar lines of Square, Groupon has now officially launched their new mobile payment service. This innovative service enables users and merchants to accept and process credit card payments using Apple’s iPhone or iPod Touch devices.
Features of Groupon’s Mobile Payment Service
The new Groupon Payment service offers a range of features designed to make transactions smoother and more efficient for both merchants and customers. One of the standout features is the ability for merchants to accept and process the company’s coupons, aptly named “Groupons,” through the system. This integration allows for a seamless transaction experience, combining payment processing and coupon redemption in one streamlined process.
“Use the Groupon Merchants app and our card reader attachment to transform the way you accept credit card payments. Plus, the app also lets you redeem Groupon vouchers, and you can get real-time business reports in the online Payments Center.”
The service is not just about accepting payments; it also provides merchants with valuable tools to manage their business. The Groupon Merchants app offers real-time business reports, which can be accessed through the online Payments Center. This feature allows merchants to track their sales, monitor transaction history, and gain insights into their business performance, all from a single platform.
How It Compares to Competitors
Groupon’s entry into the mobile payment space puts it in direct competition with established players like Square. While Square has been a pioneer in mobile payments, Groupon aims to differentiate itself by leveraging its existing merchant relationships and integrating its popular coupon system. This could provide a unique value proposition for businesses that already use Groupon for marketing and customer acquisition.
For example, a small café that frequently runs Groupon deals can now use the same platform to process payments and redeem coupons, simplifying their operations. Additionally, Groupon’s competitive transaction fees and the ease of use of their card reader attachment make it an attractive option for small to medium-sized businesses looking to streamline their payment processes.
Moreover, the service is designed to be user-friendly, requiring minimal setup. Merchants simply need to download the Groupon Merchants app, attach the card reader to their iPhone or iPod Touch, and they are ready to start accepting payments. This ease of use is crucial for small business owners who may not have the time or technical expertise to deal with complicated payment systems.
For more information, jump over to the new Groupon Mobile Payment Service website for details.
Source: Groupon
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