Groupon, the world's largest online daily deals provider, launched a payment business on Wednesday and entered a crowded field where it will compete aggressively on price with eBay's PayPal and start-up Square.
The service, called Groupon Payments, lets US restaurants, salons and spas, retailers and other businesses that run Groupon daily deals accept credit card payments at a lower rate than other providers. In a typical local deal, a customer could pay $20 for a voucher worth $40 of goods and services.
Groupon will charge 1.8 percent for MasterCard, Visa and Discover cards, on top of a 15 cent per-swipe fee. For American Express cards, it charges 3 percent plus the 15 cent fee.
Groupon's daily deals competitors include LivingSocial, Google and Amazon.com, which owns part of LivingSocial.
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The service, called Groupon Payments, lets US restaurants, salons and spas, retailers and other businesses that run Groupon daily deals accept credit card payments at a lower rate than other providers. In a typical local deal, a customer could pay $20 for a voucher worth $40 of goods and services.
Groupon will charge 1.8 percent for MasterCard, Visa and Discover cards, on top of a 15 cent per-swipe fee. For American Express cards, it charges 3 percent plus the 15 cent fee.
Groupon's daily deals competitors include LivingSocial, Google and Amazon.com, which owns part of LivingSocial.
Read More . . . .