Launched last September, Groupon Payments allows you to accept credit and debit cards by swiping them through a card reader attached to your phone. Previously this was reserved for iOS devices. Now Groupon is bringing the same functionality to Android.
The mobile payment service is built-in to the latest version of the Groupon Merchant app. Here you can view a live transaction history, check daily sales reports, redeem Groupon deals, scan barcodes, and more. Groupon will provide businesses with an audio jack card reader free of charge.
Separating itself from other Square competitors, Groupon boasts low rates. Retailers are charged 1.8 percent of all MasterCard, Visa, and Discover card sales when swiped (2.3 percent when keyed in) plus a $0.15 for each transaction. Pricing for American Express is more complicated as it’s based on your industry category.
We should note that the company hasn’t released any figures on how successful Groupon Payments has been on the iPhone other than saying it has seen “great reception.” If your company is Android-based, and you’re looking for an affordable mobile payment solution, Groupon’s prices alone might be enough reason to try out the service.
[Disclaimer: Sprout Social has financial ties to Groupon.]