CHICAGO--(BUSINESS WIRE)--
Today Groupon
(NASDAQ: GRPN) announced the launch of Groupon
Payments™,
a payments service backed by a guarantee to be the lowest cost option
for the company's merchants to accept credit cards. Built into the
latest version of the Groupon Merchants app for the iPhone and iPod
Touch, Groupon Payments provides restaurants, salons and spas, retail
establishments and other local businesses with the ability to accept all
credit card payments at a lower rate than other providers.
Groupon launches Groupon Payments(TM), a payments service backed by a guarantee to be the lowest cost option for the company's merchants to accept credit cards. (Photo: Business Wire)
After a successful pilot in the San Francisco Bay Area, any merchant
that runs a deal with Groupon in the United States can now accept
payments at the lowest rates in today's marketplace:
-
Swiped transactions - MasterCard, Visa and Discover (1.8% plus $0.15
per transaction) and American Express (3% plus $0.15 per transaction)
-
No hidden costs or monthly fees
Merchants will also have their credit card deposits in their bank
accounts overnight, which is much faster than the typical experience of
waiting two to three business days offered by most credit card
processors.
"Our goal is to provide merchants with the most affordable and powerful
tools to run and grow their businesses," said Mihir Shah, VP Mobile and
Merchant Products at Groupon. "With groundbreaking pricing and service,
Groupon Payments does just that."
Groupon merchants that sign up for the service will enjoy a fast,
intuitive experience that is capable of tackling their everyday credit
card processing needs. Some of the Groupon Payments characteristics
include:
-
Service — Backed by a 7-days-a-week Groupon Payments support
team reachable by phone and email
-
Hassle-Free — Enroll within minutes
-
Fully-Featured — Use Groupon Merchants app to enter bill
totals, add tips, apply taxes, process refunds and email customer
receipts
-
Sturdy — Swipe credit cards via a sturdy, case-based credit
card reader suitable for high transaction volume merchants or an audio
jack accessory
-
Secure — Encrypted and secure credit card information
-
Analytics — View payments information seamlessly to an online
Payments Center where merchants can view a live transaction history,
check daily sales reports, track deposits to their account and analyze
revenue trends
In addition, merchants can use the app to scan and redeem Groupons and
monitor additional spend over the value of the Groupon.
"While the cost savings are obvious, we were really impressed by the
level of support provided by Groupon and the speed in which we received
our payments," said Nadia McClinton, owner of Body By X in Corte Madera,
Calif. "From day one we discovered we could rely on Groupon Payments to
effectively, quickly and easily process transactions and deliver a
better customer and employee experience. It truly saves us time, money
and effort that we can invest in other aspects of our operations."
While Groupon Payments is designed for local businesses that run deals
with Groupon, the service is also available as a pilot to non-Groupon
merchants at the low rate of 2.2% (3% American Express) + $0.15 per
transaction.
Groupon Payments and the payments-enabled Groupon Merchants app are the
latest additions to Groupon's extensive suite of products and services
that merchants can use to save money, streamline operations and grow
their businesses. These include: Groupon
Daily
Deals;
Groupon
Now!
real-time location-based offers; Groupon
Rewards
an easy-to-use loyalty program and Groupon
Scheduler
an online scheduling application for appointment-based businesses.
Local businesses interested in learning more about Groupon Payments can
visit www.GrouponWorks.com/Payments.
The Groupon Merchants app can be downloaded for free from the iTunes
App
Store.
The guarantee of lowest possible rates is only available to Groupon
merchants located in the United States. Merchants must provide proof of
current third-party rates for identical services. Participation is
subject to the terms of the Groupon Payments Merchant User Agreement
which may modify or discontinue the guarantee and the underlying
services at any time. The guarantee is void where prohibited by law.
About Groupon
Groupon (NASDAQ: GRPN) launched in November 2008 in Chicago, features a
daily deal on the best stuff to do, eat, see and buy in 48 countries
around the world. Groupon uses collective buying power to offer huge
discounts and provide a win-win for businesses and consumers, delivering
more than 1,000 daily deals globally. To subscribe for the best deals in
your city, visit (http://www.groupon.com).
To learn how to become a featured business, visit (http://www.grouponworks.com).
Forward-Looking Statements
This announcement contains forward-looking statements that involve risks
and uncertainties, and actual results could differ materially from those
discussed. Factors that could cause or contribute to such differences
include, but are not limited to, the factors included under the headings
"Risk Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in the company's Annual Report on
Form 10-K for the year ended December 31, 2011 and subsequently filed
quarterly reports filed with the Securities and Exchange Commission,
copies of which may be obtained by visiting the company's Investor
Relations web site at http://investor.groupon.com
or the SEC's web site at (www.sec.gov).
You should not rely upon forward-looking statements as predictions of
future events. Although we believe that the expectations reflected in
the forward-looking statements are reasonable, we cannot guarantee that
the future results, levels of activity, performance or events and
circumstances reflected in the forward-looking statements will be
achieved or occur. Moreover, neither we nor any other person assumes
responsibility for the accuracy and completeness of the forward-looking
statements. We undertake no obligation to update publicly any
forward-looking statements for any reason after the date of this press
release to conform these statements to actual results or to changes in
our expectations.
"Groupon" is a registered trademark of Groupon, Inc. All other names
used may be trademarks of their respective holders.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50413845&lang=en
Press Contacts:
Groupon
Nick Halliwell, 312.999.3806
nhalliwell@groupon.com
or
Weber
Shandwick
Megan Casserly, 312.342.5764
mcasserly@webershandwick.com
Source: Groupon
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