Press release from Business Wire
Groupon Brings Low-Cost Processing Rates to the Most Common Way Local Businesses Accept Credit Card Payments
<p class='bwalignc'> <i>Addition of credit card terminals complements Groupon's existing payments offerings</i> </p>
Wednesday, August 14, 2013
Groupon Brings Low-Cost Processing Rates to the Most Common Way Local Businesses Accept Credit Card Payments10:00 EDT Wednesday, August 14, 2013
CHICAGO (Business Wire) -- 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.
Groupon expects to add its payments service to additional mobile, tablet and terminal point-of-sale devices in the future. Merchants interested in learning more about Groupon's suite of iPad and mobile point-of-sale and payments solutions for local businesses can visit breadcrumb.groupon.com.
In addition to payments, Groupon offers the Breadcrumb point-of-sale suite for merchants:
- 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
Low Price Guarantee: Some restrictions apply. See the terms and conditions at breadcrumb.groupon.com for details.
Breadcrumb by Groupon is a suite of powerful, cloud-based iPad and smartphone tools that help businesses operate faster, know their customers better and maximize revenue. Breadcrumb products include flexible, affordable iPad point-of-sale products and payments solutions for all businesses, which include a low price guarantee on credit card transaction fees, free installation assistance and 24/7 phone technical support. To learn more about Breadcrumb by Groupon products and to see them in action, visit breadcrumb.groupon.com.
Groupon (NASDAQ: GRPN) is a global leader in local commerce, making it easy for people around the world to search and discover great businesses at unbeatable prices. Groupon is reinventing the traditional small business world by providing merchants with a suite of products and services, including customizable deals, payments processing capabilities and point-of-sale solutions to help them attract more customers and run their operations more effectively. By leveraging the company's global relationships and scale, Groupon offers consumers incredible deals on the best stuff to eat, see, do, and buy in 48 countries. With Groupon, shoppers discover the best a city has to offer with Groupon Local, enjoy vacations with Groupon Getaways, and find a curated selection of electronics, fashion, home furnishings and more with Groupon Goods. To subscribe to Groupon emails, visit www.Groupon.com. To learn more about the company's merchant solutions and how to work with Groupon, visit www.GrouponWorks.com.
"Groupon" and “Breadcrumb” are registered trademarks of Groupon, Inc. All other names used may be trademarks of their respective holders.
Erin Yeager, 312-999-3434