Tag: groupon mobile payments

Mobile payments POS initiative launched by Groupon

The daily deals giant is working on clawing its way back to relevance with the “Gnome”.

Groupon, the massive daily deals website that had been a tremendous success before it nearly brought itself to the point of annihilation, has entered into the mobile payments market in an effort to try to restore some of its former victories in the online world.

It is hoping that its new Gnome point of sale (POS) system will be its new road to glory.

This launch represents the first time that Groupon has moved into the mobile payments POS market. Its Gnome is a platform that is based on the iPad. It is designed to be a solution that will eliminate the requirement for using paper coupons that must be clipped and submitted by the shopper. However, this is also supposed to represent the end of having to display a discount coupon on a smartphone screen at a physical retailers checkout counter, as well.

The Gnome platform uses Bluetooth to be able to apply the discounts at the mobile payments terminal.

The pronunciation of the platform’s name is “G-nome”, as opposed to pronouncing it with a silent “G” as in the tiny fantasy people. Aside from using Bluetooth, the customer’s name can also be used for the redemption of Groupon vouchers at a merchant’s location. It also allows the business to be able to use social media such as Facebook and Twitter to be able to share customer feedback.

Groupon’s CEO, Eric Lefkofsky, explained this new platform by saying that “When it’s complete, Gnome will serve as an operating system for merchants to run their entire operation and enable them to create real-time promotions that bring customers into their business when they need them the most.”

He added that this mobile payments platform is “an important step” for the company to be able to achieve its “long-term mission” of designing a way for the merchants around the world will be able to remain continually connected to the local commerce platform at Groupon. The Gnome device will become available within the next few months, according to the announcement from the company.

Mobile payments firm wins backing of Groupon and American Express

SumUp wins funding to expand mobile payments services

A mobile payments startup based in Berlin, Germany, has received the financial backing of large companies like Groupon and American Express recently. SumUp is a relatively new startup company that currently operates in 11 European countries and has helped expand mobile payments throughout the region. Consumers have been growing more comfortable with the idea of mobile commerce and have been demanding new services that are more comprehensive and more convenient for their needs.

Company may be able to establish stronger foothold in Europe

SumUp has announced that it has raised several million dollars in funding from companies that are interested in its approach to mobile payments. The funding is expected to help SumUp expand the services it offers throughout Europe. While mobile commerce has managed to establish a strong foothold in Europe, it is still considered a young sector that faces significant challenges that can derail growth and progress. Appropriate levels of funding could help mobile payments overcome these challenges and find better traction throughout the world.

Mobile Payments - Support from Groupon and American ExpressLarge companies currently dominating mobile commerce field

SumUp is not the only mobile payments firm operating in Europe. Several larger companies, such as PayPal, have begun to muscle into the mobile commerce sector in the region, all looking to establish some rapport with consumers and make them more comfortable with the concept of making mobile payments. Whether SumUp will be able to compete with these larger companies is uncertain, but the firm may be able to beat out smaller competitors that exist in the market.

UK consumers show great deal of love for mobile payments

Thus far, consumers in the United Kingdom have been the most willing to embrace mobile commerce. The country already has a robust mobile payments infrastructure. Several companies in the UK have embraced mobile payments, creating a highly competitive environment that has been unaccommodating to smaller companies that are not backed by significant funding. Fortunately for SumUp, both Groupon and American Express have considerable faith in the company.