Groupon ( www.groupon.com) (NASDAQ: GRPN) announced the addition of credit card terminals to the company’s existing payments suite for local businesses. With the inclusion of terminals, Groupon extends its popular payments service to the most common way that local businesses accept credit cards and makes an affordable and sophisticated payments solution available to nearly every merchant – regardless of the size of their business or budget.
Local businesses have three options to implement Groupon’s payments service on a credit card terminal: configure an existing Verifone and Ingenico device; purchase a Verifone vx520 from Groupon for $150 (with no monthly contract or fees); or rent a Verifone vx520 to own for $15 per month (for 12 months). With the ability to run across mobile, iPad and terminal point-of-sale devices, Groupon now caters to every type of small business.
“While merchants are attracted to the easy signup, low and transparent pricing and powerful analytics provided by our payments service, not all merchants are ready to immediately adopt an iPad or iPhone for their credit card processing needs,” said Sean Harper, director of product, Groupon. “We anticipate that most merchants will eventually migrate their payments to tablet and mobile POS systems, but for now, this option lets them use familiar hardware and still benefit from the features of our payments service to save money and better manage their businesses.”
In addition to having a cost-effective hardware package, the pre-programmed device offers:
- Low-Price Guarantee – Groupon’s low-price guarantee to beat any competitors’ rates on credit card transaction fees. Rates of only 1.8 percent plus $0.15 per transaction (MasterCard, Visa and Discover) with no hidden costs or monthly fees
- Free Processing – No processing fees on the first $5,000 in credit card transactions (promotional offer)
- Payments Center – 24/7 ability to access important business analytics from all Groupon POS devices, including the ability to run reports on payments trends, top customers, refund amounts and tip totals.
- Breadcrumb POS – Provides merchants with a contemporary, effective and inexpensive way to replace their outdated cash registers with an easy-to-use point-of-sale solution that offers a low-price guarantee on credit card transaction fees
- Breadcrumb PRO – Caters exclusively to restaurants and bars that require a more extensive set of features such as check and table management and time clock functionality