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Mobile & Wireless

Ingenico to supply iPad card readers to Groupon - report

Tuesday 25 September 2012 | 11:31 CET | News
French payment terminal maker Ingenico has won a contract from online coupon company Groupon to provide a mobile payment system, reports Les Echos. According to the paper's sources, the Groupon Payments service presented in the US a few days ago will allow small business holders to turn their iPhone or iPad into a payment terminal. Ingenico provides a white-label plug-in bank card reader and encryption software. Groupon is paid on a commission basis. More deals of this sort may be on the way as Ingenico moves into a space occupied by US start-up Square, founded by Twitter owner Jack Dorsey. Square charges a commission of 2.75 percent. A similar system, PayPal Here, costs over USD 300 for the reader and software, which may be too much for a sole trader. Ingenico is using security as a differentiating factor, planning to introduce a version for smartcards with enhanced security. Systems in the US use magnetic strip cards, that are more vulnerable to fraud. Ingenico also plans to expand its ISMP solution, currently used in Apple Stores to turn iPhones into a chip and wireless card reader. The company has a partnership with Google, whose NFC-enabled Google Wallet could be modified and relaunched given its weak performance so far in the US.

Categories: Mobile & Wireless
Companies: Apple / Google / Groupon / Ingenico / PayPal / Square
Countries: World
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