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Groupon Grassroots, the philanthropic program at
Groupon (NASDAQ: GRPN), announced the launch of
Social Venture Week and the expansion of
Groupon Payments™ to all Groupon Grassroots venture partners and
Social Enterprise Alliance (SEA) members. For the next 14 days, Groupon will feature a series of social ventures across the country. Additionally, all social venture partners will now be offered the Groupon Payments tool, which launched in September 2012 to Groupon merchants, providing a better way to accept credit cards at the guaranteed lowest overall rates.
Groupon Grassroots routinely runs 10-15 campaigns a week with local nonprofits across the US, totaling just over 500 in 2012. Social Venture Week specifically features a collection of social ventures: For-profit, mission-driven businesses that seek to provide sustainable solutions to achieve a social objective.
The campaign will showcase a variety of causes, ranging from youth mentorship and disability programs to employment training and upcycle innovation. The social ventures in the series include:
Additionally, all partnering social ventures now have access to Groupon Payments. The service is built into the Groupon Merchants app for the iPhone and iPod Touch, and is backed by a guarantee to be the lowest cost option to accept credit cards. As credit card fees can be a burden for mission-driven organizations, Groupon Payments relieves that strain and simplifies the process, featuring:
Swiped transactions - MasterCard, Visa and Discover (1.8% plus $0.15 per transaction) and American Express (based on industry category)
No hidden costs or monthly fees
Participants also receive credit card deposits in bank accounts overnight.