Groupon Makes Big Push Into Payments Business

Grouponedged a bit into Square's and PayPal's territory with a new service announced Wednesday that promises credit card discounts for merchants.

Groupon Payments, which was piloted in the San Francisco Bay Area with 150 businesses, is built into the Groupon Merchants app on the iPhone and iPod Touch. Using the new service, local businesses pay 1.8% swipe fee plus $0.15 for each transaction for MasterCard, Visa and Discover purchases and 3% plus $0.15 for American Express purchases. Groupon also includes the option of an iPhone-attached swiper. One version, which attaches to your audio jack, is free. Another one that's built into the case of your iPhone runs $100. The service is open…
Continue reading...

More About: Square, groupon, paypal