News Summary: Groupon launches US payments service

News Summary: Groupon launches payments service in US to let merchants take credit cards

Associated Press
Groupon launches payments service in US

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This undated image provided by Groupon shows the company's new payment …

NEW MARKET: Groupon Inc. launched a payment service Wednesday that allows businesses to accept credit cards using an iPhone or iPod Touch. It's the latest company to enter the growing mobile payments market.

STOCK UP: The announcement sent the online deal's company's beaten-down stock up more than 12 percent. Shares have still lost three-quarters of their value this year.

MEANT FOR CUSTOMERS: Groupon Payments is aimed mainly at businesses that offer deals through Groupon, though they can use the system to process any credit card transaction. A test program allows other merchants to use the service, but at higher rates.

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