Groupon.com, the website that kick-started the group buying revolution across many countries in the world, has come up with a new mobile based payment system for merchants and shop owners. All that is required to do is install the Groupon Merchants app on your iPhone and iPod Touch and mount the plastic card reader attachment (dongle) to phone.
Groupon is calling the payment system – “Groupon Payments” and is a direct competitor to existing similar mobile payment solutions such as the ones from Square and PayPal. Here are some points about the transaction charges and Groupon fees for various credit cards:
Groupon is offering the Card Swipe attachment dongle to merchants for free who sign-up for the Groupon Payments service. Now the question is does the world need another payment system, inspite of the presence of similar services from Square and Paypal.