Groupon Helps Merchants Take Credit Cards

Groupon has added a credit card swiper to its merchants app. Much like Square, the daily deal site will give you a plug-in device to turn your iPhone into a point of sale terminal, while still serving as a scanner for redeeming Groupons. Considering the cost of a merchant account with a major bank, this might be Groupon’s best idea yet.

Groupon promises a quick turnaround by processing the payments overnight. The fee rates range from 1.8 percent to 3.25 percent of each transaction and a 15-cent fee, depending on the type of card and whether the transaction was keyed-in or swiped.

There are also tools for calculating bill totals, processing refunds, redeeming Groupon vouchers, and emailing receipts.

Explained Groupon, “We’re confident Groupon Payments will make for a better experience between customers and employees, make merchants lives easier with the aggressively competitive rates and extensive features we’re offering, and the operating system for local commerce is becoming an exciting reality.”


Related Stories
Mediabistro Course

Social Media Metrics

Social Media MetricsStarting September 4, work with a social media manager to monitor, measure and optimize your social media efforts! Danielle Brigida will teach your how to sift through web analytics, Facebook Insights, and Twitter mentions to develop a comprehensive reporting and tracking system for your brand. Register now!