Point of Sale; Square, Groupon and PayPal
It appears to be the week for Point of Sale hardware, as we've watched Groupon, Square and PayPal raise the stakes. Should Verifone be worried? I think so. A day after Groupon released (and then pulled) an iPad app with a new mobile payments dashboard for businesses, today the company is taking the wraps off a bigger piece of news around its larger plans to expand its commerce services for local merchants. Building on its Breadcrumb payments and commerce service for restaurants, which Groupon acquired last year, the company today is rebranding its wider payments service — and the final version of that free iPad app — under the same name.
The new iPad app for merchants of all stripes is called “Breadcrumb POS,” while the old Breadcrumb app for restaurants will now be called “Breacrumb Pro.” Both will be here when they go live on the app store.
After watching its rivals Square and Groupon play their hands earlier today, PayPal announced a program that allows merchants to trade in their old payment processing equipment in exchange for new hardware. The promotional offer features POS systems from ERPLY, Leaf, Leapset and the company's own PayPal Here. In addition to luring retailers with a fancy new cash register, the outfit is offering to waive credit, debit, check and PayPal processing fees for the remainder of the year. If the aforementioned incentives sound appealing and you'd like to know more, head on over to our source link to check out the program's all-important fine print.
Of all the payments processed using Square nearly 50% take place on an iPad, and the average payment volume processed by iPad users doubles that of smartphone Square users. With that in mind, Square has just unveiled some new hardware for the iPad-using crowd.
It’s called the Square Stand, and it turns your iPad into a true point of sale system.
“Local business owners take as a given that they need an ugly, slow, expensive, and complicated point of sale system cluttering their counter,” said Jack Dorsey, co-founder and CEO of Square. “Square Stand is elegant, fast, affordable, and easy to use. Whether you’re selling cupcakes, cardigans, or cappuccinos, running your business with Square has never been easier.”
The offerings from Square and PayPal strengthen existing payments networks, while Groupon's appears to be a slight challenge. Although that have taken a slightly different approach by include Merchant management deals. Should make for an interesting time in merchant POS over the coming year.