Tag: pos mobile payments

Mobile payments tablet POS debuted by Groupon after false start

Groupon - Mobile payments are a goThe daily deal provider accidentally released its application early, but it is now available for iPads.

Although the element of surprise was no longer available following the false start of the mobile payments tablet POS app from Groupon at the Apple App Store, the application has now been officially released for use by businesses.

The company had previously released the app for download, only to take it back down again hours later.

Following the premature launch, the Groupon mobile payments app was added to the App Store for iPad once more. This application is a new version of its Breadcrumb POS solution. The company is hoping that it will help to broaden its footprint from being relatively limited to bars and restaurants, into all forms of brick and mortar company, instead.

This iPad mobile payments app launch has the potential to replace traditional cash registers.

According to the statement released by the Groupon vice president of merchant OS, Mihir Shah, “With this launch we can help every local business replace their outdated cash registers with a modern, affordable, money-saving tool that allows them to save on credit card transaction fees and run their businesses better.”

Beyond the Breadcrumb POS mobile payments launch, Groupon has also announced that it is rebranding its original point of sale solution – that is, the one that was geared toward restaurants and bars – as its Breadcrumb Pro solution. Both of the available solutions come with the Breadcrumb Payments feature, which allow for quick and easy credit and debit transactions for restaurants and retailers, alike.

Beyond mobile payments credit and debit transaction acceptance, the solution also provides a number of additional features, such as live support, next day deposits, and analytics. However, what many in the industry think will be the primary selling point of the service to businesses will be the guarantee of the lowest rates.

At the moment, Groupon’s mobile payments POS solution comes with a 1.8 percent, plus 15 cents per transaction, fee. Moreover, it also includes free processing for the first $5,000 that the merchant brings in through transactions in its Breadcrumb POS system.

Mobile payments currently comprise a tiny fraction of American POS volume

Mobile Payments POSThe latest research indicates that it makes up only 0.01 percent of the total in the United States.

According to a report that was just issued by Javelin Strategy & Research, mobile payments using contactless technology at the point of sale (POS) made up only a tiny sliver of the total volume in the United States in 2012.

The report indicated that this technology was used for only 0.01 percent of the total POS volume in the U.S.

The research data showed that the total amount spent over contactless mobile payments was approximately $500 million. At the same time, though, the report did not see a grim future for this form of smartphone based transaction. In fact, based on their predictions, things are looking bright in that area.

The forecast made by the report is that there will be an increase in mobile payments at a CAGR of 61 percent.

According to Javelin’s predictions, the compound annual growth rate that will be seen for mobile payments using contactless technology will be 61 percent this year. This will mean that the method will experience growth at a rate that is higher than any other method. In fact, it is predicting that this trend will continue over the next five years, and that in 2018, the total volume will have reached 5.4 billion. This will mean that it will make up 0.13 percent of the total POS volume in the United States in that year.

A Javelin industry analyst, Aleia Van Dyke explained this trend by saying that the point of sale market in retail is experiencing a very rapid evolution, as the popularity of smartphones and mobile payments takes off. There is a much greater expectation from consumers today, as they feel that the retail businesses where they shop should be providing an enhanced shopping experience while inside the walls of the store through the use of smartphones.

The rapid implementation of mobile payments and other transaction options such as prepaid and gift cards have helped with the adoption of other technology based options, among consumers, according to Van Dyke. As a whole, retail POS purchases last year brought in $3.98 trillion. The prediction for five years down the road is $4.2 trillion.