Groupon Grassroots, the philanthropic program at Groupon , announced the launch of Social Venture Week and the expansion of Groupon Payments to all Groupon Grassroots venture partners and Social Enterprise Alliance (SEA) members.
For the next 14 days, Groupon will feature a series of social ventures across the country. Additionally, all social venture partners will now be offered the Groupon Payments tool, which launched in September 2012 to Groupon merchants, providing a better way to accept credit cards at the guaranteed lowest overall rates.
Groupon Grassroots routinely runs 10-15 campaigns a week with local nonprofits across the US, totaling just over 500 in 2012. Social Venture Week specifically features a collection of social ventures: For-profit, mission-driven businesses that seek to provide sustainable solutions to achieve a social objective. The campaign will showcase a variety of causes, ranging from youth mentorship and disability programs to employment training and upcycle innovation.
The service is built into the Groupon Merchants app for the iPhone and iPod Touch, and is backed by a guarantee to be the lowest cost option to accept credit cards. As credit card fees can be a burden for mission-driven organizations, Groupon Payments relieves that strain and simplifies the process, featuring swiped transactions with major providers such as MasterCard, Visa and Discover (1.8% plus $0.15 per transaction) and American Express (based on industry category.)Participants also receive credit card deposits in bank accounts overnight.
“We’re proud to be featuring a selection of such innovative social ventures – ones that truly illustrate a thriving cause-driven business model,” said Patty Huber Morrissey, Head of Social Innovation at Groupon. “We’re also excited to offer Groupon Payments to our social venture partners, allowing them to relieve some of the stress in managing credit card transactions, save money by avoiding high credit card fees and ultimately focus more on their core mission.”
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.