Amazon’s Local Register is a new mobile credit card reader joining the likes of PayPal, Square and others in the hotly contested mobile payment space. Amazon’s approach right out of the gate is to under price everyone, following the classic “race to the bottom” trend that we’ve seen credit card processing go through.
Through January 2016, Amazon is offering a 1.75% rate on each transaction. In 2016, the rate will increase to 2.5%. Square, PayPal and Google Wallet charge 2.75%, 2.7%, and 2.9% respectively. In addition to its low rate,…
Tim O’Shaughnessy, since stepping down as chief executive of LivingSocial, has invested in two new companies. He said he isn’t searching for deals and doesn’t expect to invest in startups as a career. He did, however, say he will invest in ideas that appeal to him.
“If it’s something I’m interested in, if I like the people and think there’s potential, I’ll be opportunistic,” he said.
O’Shaugnessy invested $7 million in OrderUp – a good ordering and delivery service. Paul Barry, chief technology officer at the startup,…
Andrew Mason, co-founder of Chicago-based Groupon, sold his final real estate tie to Chicago for $1.15 million. The West Town triplex condo was Mason’s final real estate tie to Chicago.
The 1920s loft consisted of 3 1/2 baths, 3 bedrooms, all of which were on one level, stainless steel appliances throughout the kitchen, as well as white lacquer cabinetry and granite counter tops, a rooftop resistance pool, and two decks with skyline views.
Mason, who is currently in northern California, was fired as Groupon’s CEO last year.
The West Town condo was not Mason’s…
Have you ever wanted to control your android phone from your PC? There’s an app for that. Meet Mobizen, an app that allows you to respond to all smartphone notifications, transfer files and use your phone’s applications.
The app was developed by Rsupport, the “number one remote solutions provider” in Asia.
“This free app displays a mirror image of your smartphone screen on your computer screen allowing you to access all the contents on your smartphone through a PC…
Groupon disappointed investors on Tuesday, reporting a net loss of $22.9 million, or three cents a share on $751.6 million in revenue, up 24% from last year. Investors responded by punishing GRPN shares. Shares fell 17% after the market closed, bringing Groupon’s stock performance down 38% for the year.
Groupon stressed that excluding acquisition and stock compensation expenses earnings per share came in at a penny. The company also announced a $250 million revolving credit line, which was described by CEO Eric Lefkofsky as a “rainy day fund”
Gyft has been acquired by First Data. The digital platform allowed for the purchase, sending, management, and redemption of gift cards on mobile devices. Both companies note the benefit to merchants and consumers as Gyft’s strength. The mobile payment wallet can be accessed on the web and as an iPhone and Android app and boasts over 200 retailers on its platform.
Amazon will soon be launching a mobile POS device rumored to be called “Amazon Card Reader”. It seems like a natural step for Amazon, but it will be entering a crowded space that includes the likes of Square, Paypal, PayAnywhere and others.
According to the documents obtained by 9to5 Mac, Staples stores are preparing to stock a new product called the “Amazon…
Mobile payments vendor Boku says it has 75% of India’s mobile subscriber market after acquiring Qubecell – a direct carrier billing company – in 2013. The integration of companies and their services and relationships is complete. With over 117 million smartphone users, India is the third largest smartphone subscriber market in the world.
With over 250 global mobile network operators, India-based merchants can use them to sell goods online with Boku technology.
Boku CEO Jon Prideaux said India serves as the regional hub of the Middle East…
Living Social has been on the lookout for a new chief executive for more than six months. On Tuesday, they finally revealed that they had found someone who happens to be the CEO of Shopping.com and the general manager of eBay’s advertising business, Gautam Thakar.
Thakar was an excellent choice because he has the potential to allow them to grow rapidly after they have been experiencing months of decline. He has a pedigree in e-commerce and digital marketing, which was something that really made appointing him easier than ever.
The former chief…
Users will not leave home without a list of things, with keys being at the very top, obviously. However, smartphones are rising on the list, even before cash and credit cards. This is why many businesses are trying to make mobile devices a way for them to accept payments and according to PayPal mobile payments is on the rise.
What Various Surveys Reveal
Currently, studies are showing that it varies globally when it comes to mobile payments. For example, 90% of China surveyors take pay from their phone,…