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Report: Groupon Testing Payments System To Compete With PayPal

     
3:12 pm on May 25, 2012 (gmt 0)

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Report: Groupon Testing Payments System To Compete With PayPal [venturebeat.com]
Groupon is testing out an offering of its own in the increasingly crowded payments space, according to an email I was forwarded by a business that was solicited for the service.
The pricing is extremely aggressive, with a 1.8% transaction fee and a 15 cent per transaction charge for transactions processed through the terminal. Square charges 2.75% with no per transaction fee. PayPal Here and Verifone Sail charge 2.7%, also with no transaction fee. Groupon is charging 2.3% for AmEx transactions [update: a groupon insider tells me the AmEx pricing is 2.7, not 2.3]. Square and PayPal don’t charge extra, and Sail charges 3.7% for AmEx.

Unlike the other players, Groupon is offering an iPod Touch and card reader to merchants free of charge. (The others provide only the readers for free — that’s Square’s reader pictured above.)