Is Groupon Good Or Bad For The Credit Card Processing Industry?

I was recording some episodes for our Merchant Mogul Podcast yesterday with my web designer and we started talking about Groupon, something interesting was a comment he made to me that just before they went public … he made several attempts to contact them to run a deal and no one every got back to him on the phone or e-mail. One day he had enough and decided to post something on their Facebook wall, finally he heard back and the response was shocking to say the least… they had a full schedule of deals and would contact him when ready… however almost 11 months later… still nothing!!

Now with them being a deal of the day company, it’s interesting that they are looking to expand in order to maintain growth, however I think they would be better of with a Steve Jobs approach like the second article I included in today’s post have  a read and share your thoughts…

Bloomberg’s Douglas MacMillan reports that Groupon is entering the payment processing business with a mobile reader comparable to those already on the market from Square and PayPal. The company behind the project has already developed credit card readers for Apple’s iPhone and iPod touch, and apparently is already testing the Groupon prototype across several retailers in the San Francisco Bay Area….More at OnlinePaymentNews » Groupon The Payment Processor?

For those of you who don’t know Yahoo has been going through a rough patch in it’s history(it’s been going on for way too long) and recently they appointed a new CEO (once again) and this article is great because it makes some great points to the incoming CEO of Yahoo about the greatest company turn around made by Steve Jobs himself when he pulled Apple from it’s corporate death bed…

1) Review all of Yahoo’s product lines with a brutal and unsentimental eye. And don’t be afraid to kill products that are not profitable or have too long a horizon to become something. Time is of the essence. Upon returning to the company in 1997, Jobs narrowed Apple’s focus to four product areas: consumer, professional, desktop, portable, before eventually embarking on new arenas, such as digital music, smartphones and tablets.

2) After getting Yahoo focused on its core strengths, unleash a marketing campaign to tell consumers and partners about them. For years, each new Yahoo CEO has had a muddled answer to what Yahoo really is. If Mayer can determine how to truly enunciate Yahoo’s mission, she might want to develop an ad campaign that would resonate with consumers, much like Apple’s “Think Different” ads told people what Apple was all about, without showing a single product….More at 5 things Yahoo’s Mayer can learn from Steve Jobs – MSN Money

I found this link below to be interesting, since Groupon does get a it’s share of bad PR, why doesn’t anyone highlight the good they do? hhhhmm food for thought

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