LOUISVILLE, KY - The mobile point-of-sale market could soon have a new player, as daily deal site Groupon is planning on entering the space, Mobile Payments Today reports.
Grouponï¿½ï¿½s mobile point of sale strategy includes launching a credit card reader/app combo, similar to Square, that will allow small businesses to accept credit and debit cards.
Groupon is planning to charge merchants 15 cents per transaction along with a 1.8% transaction fee (AMEX transactions would be charged at 2.7%).
Rather than use a dongle like Square, the Groupon service will rely on a wrap-around reader for iPod Touch devices to capture card data.
Industry trade publication Mobile Payments Today characterized Grouponï¿½ï¿½s intention as "interesting," coming on the heels of its purchase of Fee Fighters earlier this year, a company that helps merchants find the lowest credit card processing services. It has also been launching merchant rewards services that expand the companyï¿½ï¿½s services beyond daily deals.