If you’re a betting person and placed your wagers against the new mobile device credit card apps, you’re probably out some of your hard earned cash. Those square application models have quickly become the trendiest and most sought after gadgets by those who do business on the go. Now, Groupon has unveiled its new partnership with Breadcrumb POS.
Food Service Trucks
It’s still in its infancy and was initially embraced by food service trucks, but now, the mobile credit card systems are being used by businesses across every industry. Several gadgets from different companies are keeping the costs competitive, as well, which is always good for consumers. The latest Groupon effort touts lower swipe fees. With its fees at 1.8% and fifteen cents, it’s lower than both PayPal and Square, which come in at 2.7% and 2.5% respectively. If there’s any catch, it’s that so far, this is designed for use with iPad.
What makes this particular area of payment technology so important is the fact that it’s the preferred payment processor for many traditional brick and mortar business owners. It is sure to grow and evolve. Already, they cut transaction times between merchant and consumer to mere seconds and along with the food service trucks and traditional businesses, those who do work outside their offices have been able to grow their business as a result of being able to accept credit cards. Matters none if you’re in a kiosk in your local mall or painting portraits in the park, these small gadgets open up a world of profitable opportunities.
Groupon and a Flat Rate
For business owners, Groupon is making available a flat monthly rate for those who use it. This has proven quite beneficial for the PayPal and Square folks and Groupon’s Breadcrumb is banking on its readers embracing its own swipe machine. It’s a great option for those whose income is difficult to predict. For just $99 a month, Breadcrumb Pro provides all of the transactions at no further costs.
Clearly, Groupon is stepping outside its own image of daily emails and coupons the Breadcrumb additions, according to the Groupon Vice President of Merchant OS, Mihr Shah, will provide invaluable assistance and tools for local businesses looking to update their technology with a “modern, affordable, money-saving tool that allows them to save on credit card transaction fees and run their businesses better.”
Breadcrumb
The plug and play Breadcrumb is easy to use and it’s being touted as a three step effort: Download the app, connect the card reader and turn on the printer for receipts. The Breadcrumb website offers an entire system for bar and restaurants with more than two hundred features, along with making it easy to accept credit cards. Owners can customize their menus, modify any aspect of those menus (drink specials, for instance), kitchen coordination, payroll and real time reporting to any other system on its network. It even offers a dedicated associate with restaurant/bar experience who is on standby to assist with customizing Breadcrumb for customers. In some cities, including San Francisco, Chicago and New York, there are even assistants who will come onsite.
Another reason Groupon is looking to Breadcrumb is due to its full suite of hardware, including iPads, stands, printers and even WiFi.
The interface itself is gorgeous – rich, glossy and vibrant. It’s not overwhelmed with too much “stuff” either. That helps, especially for those who might only just be getting into the whole point of sale technology. Groupon also says the extended email and phone support, along with a thirty day trial and money back guarantee work great for customers and the fact they can get up and going within a day sweetens the deal even further.
An Idea and Right Timing
With more of us using our debit and credit cards these days, along with the changing face of business owners, those who are willing to adapt are the ones who will be able to flourish in a new digital business model. In fact, Groupon touts more than 500,000 businesses that have partnered with it in its first few years. It’s also willing to evolve with new tools and innovative solutions. One business owner who’s been with Groupon nearly since its inception said,
The most important thing you can do to get the most out of your Groupon experience is to use the Merchant Center. It’s where you can track redemptions, ROI and customer feedback.
PayPal Factor
Ah – but never one to be outdone, PayPal has unveiled its latest strategy in an attempt to dominate the mobile payments space. Just a few days ago, the web payments company announced it would be abandoning its debit or credit card, check and PayPal processing charges for US businesses this year if they trade in their traditional cash registers and commit to using PayPal. The new program, aptly named Cash for Registers goes live in June.
Make no mistake – PayPal has already perfected its hardware, even as both Groupon and Square are still tweaking their own respective hardware. It also has impressive apps as well. And did we mention the 55 million (and growing) customers that use it every month? That’s a huge advantage and one its competition can’t even begin to match, mostly because they are still in their infancy when compared to PayPal. Some are wondering, then, why PayPal was so eager to beat them to the proverbial punch. It’s already carved its own unique niche, after all.
Ultimately, though, Groupon wants to ensure it’s a formidable player for both Square and PayPal; even Square is a step ahead of Groupon – but then again PayPal offers its own MasterCard debit card, which gives it a definitive edge.
Do you have a preference? If you’re a small business owner, would you consider abandoning your current payments processor for one that offers new bells and whistles or are you more comfortable remaining right where you are, knowing exactly what to expect? Share your thoughts with us.
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