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Groupon launches credit card payment business

Groupon Inc, the world’s largest online daily deals provider, launched a payment business on Wednesday and entered a crowded field where it will compete with eBay Inc’s PayPal and start-up Square Inc.

Groupon said the new service lets restaurants, salons and spas, retailers and other local businesses accept credit card payments at a lower rate than other providers.

Any merchant that runs a daily deal with Groupon in the US can sign up for the payments service, the company added.

(Source: CNBC)