Mobile Payments Coming to a Loyalty/Deals App Near YouRyan Kim
Groupon is reportedly testing out its own Square rival, a mobile payments system for merchants that will undercut Square and other competitors’ transaction fees, according to a report by Rocky Agrawal at VentureBeat. Agrawal said he’s heard from a business that has been approached by Groupon about the payments system that would work with iOS devices. That system, apparently already being tested in the Bay Area, would offer a 1.8 percent transaction fee plus a 15¢ per transaction charge. That would be, in many cases, cheaper than Square, which has a flat 2.75 percent transaction fee, and PayPal Here and VeriFone’s SAIL, which have 2.7 percent transaction fees.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.