If you’ve been doing business with us for a while now you may have seen one of our guys using their phone for credit card payments. Square, the first mobile payment card company now has some new competition in the business. Groupon who became popular for offering deeply discounted services, trips, etc. just started a payment service as well.
Groupon may be good competition for Square and they are definitely putting up a bit of a fight. Square charges 2.75 percent on transactions while Groupons payment services are offered at a fraction of that at 1.8 percent.
It’s not a surprise that other companies are looking to get into this business since it has grown so fast and there is hardly any competition in this new field.
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