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Groupon Grassroots Launches Social Venture Week, Offers Groupon Payments™ Service To Social Venture Partners And Members Of Social Enterprise Alliance

Today 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.

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