Groupon (NASDAQ:GRPN) shares were up more than 13% Wednesday morning, thanks to its launch of a new mobile payment system in the U.S.
This should prove attractive to businesses, as Groupon will pocket a lower transaction fee than eBay's (NASDAQ:EBAY) PayPal.
It's still too early to tell if this will upend the likes of PayPal, Square, and other mobile payment systems, but it's a much-needed expansion to Groupon's business model.
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Chris Hill owns shares of eBay. Joe Magyer owns shares of eBay. Tim Hanson has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend eBay. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.