Groupon Unveils Mobile Credit Card System To Challenge Square And Paypal Here
The square application model has found success across the globe, specifically in major cities. The application, first fully embraced by food trucks, has begun to pop up in more traditional brick and mortar stores. Using a mobile device such as an iPad or iPhone as a payment system, the Square app eases the often times confusing and expensive nature of a more traditional POS system. In recent months, Paypal has introduced their own mobile payment system Paypal Here. Now Groupon, the popular user-friendly coupon aggregator, is expanding their existing POS system in an attempt to perfect the mobile processing and dining experience.
The new system, Breadcrumb POS, follows the model mastered by Paypal and Square. The system would charge smaller scale merchants, such as coffee shops, salons and mom-and-pop retailers. At 1.8% per swipe, plus 15 cents, Breadcrumb falls below the 2.5% introductory plan offered by square and 2.7% offered by Paypal Here.
Like Square and Paypal, Groupon will also offer a monthly flat rate to businesses with a less stable monthly income. Their Breadcrumb Pro plan charges busineses $99 a month for improved features and software. In comparison the flat rate and improved features for Square customers runs $275 for businesses bringing in less than $250,000. Breadcrumb Pro will be ideal for members of the restaurant industry as it can track aspects of industry such as inventory and customer deliveries. This system will also coordinate customers' personal information so a retailer will come to know and expect their order.
Though many may only be familiar with Groupon via their daily emails offering coupons and special pricing at area retailers, the Breadcrumb POS expansion is part of a new embrace of consumer strategies.
According to Mihir Shah, Vice President of Merchant OS, the new applications will "help every local business replace their outdated cash registers with a modern, affordable, money-saving tool that allows them to save on credit card transaction fees and run their businesses better."
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