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News Summary: Groupon launches US payments service

Wednesday - 9/19/2012, 2:51pm  ET

By The Associated Press

(AP) - 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.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)