Groupon announced on Wednesday the addition of credit card terminals to its existing payments suite for local businesses.
Local businesses have three options to implement the company’s payments service on a credit card terminal. Businesses can configure an existing Ingenico or Verifone device, purchase a Verifone vx250 for $150 or rent a Verifone vx520 to own for $15 per month.
“While merchants are attracted to the easy signup, low and transparent pricing and powerful analytics provided by our payments service, not all merchants are ready to immediately adopt an iPad or iPhone for their credit card processing needs,” Sean Harper, the director of product at Groupon, said. “We anticipate that most merchants will eventually migrate their payments to tablet and mobile POS systems, but for now, this option lets them use familiar hardware and still benefit from the features of our payments service to save money and better manage their businesses.”
The pre-programmed device offers free processing on the first $5,000 in credit card transactions, 24/7 access to business analytics from all Groupon point-of-service devices and the company’s low-price guarantee to beat any competitors’ rates on credit card fees.
Groupon plans to add its payment service to additional tablet, mobile and terminal POS devices in the future.