Groupon Seeks To Build Its Own Swipe Reader, Report Says

By  |  May 25, 2012
 | 

Groupon may be preparing to build and ship its own mobile payment swipe reader, in an effort to compete with companies like Square and PayPal.

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    VentureBeat’s Rocky Agrawal says a business that Groupon reached out to for help with the project forwarded an email on the matter to him, and the details within that email appear to be robust. Groupon’s pricing is said to be based on a 1.8 percent transaction fee and a 15 cent per-transaction fee, much lower than existing players’ setups. Groupon is also said to be offering a free iPod Touch along with its new swipe reader or “dongle.”

    Agrawal also reached out to Groupon for comment: “Asked what he could tell me about the offering, Groupon spokesman Paul Taaffe replied, ‘Nothing.'”

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