So, when a consumer buys your gift card for $100, you see $92 of that purchase in your bank account via ACH transfer. At Hownd, merchants only pay a flat 8% rate which includes the credit card processing. Merchants tell us that Groupon’s cut of sales can be up to 50% of what the consumer pays (!!). The reality is that 15 to 20 percent of purchased gift cards are never used… this feature alone is a HUGE benefit for Hownd merchants and can mean hundreds of dollars a month in “free money”! This means you enjoy the “free money” of unused gift cards and buy nows! With Hownd, you get paid after the purchase, not after the consumer visits. Which is good for Groupon (because they keep the money)… but not so good for you… With Groupon, you have to wait until the consumer visits before you receive your money.(See Section 2.h of the Groupon Terms and Conditions).Īnd… if the consumer never visits, you never see the money the consumer spent buying from your business. Your money is deposited into your bank account via ACH transfer within a few days of the consumer making a purchase from your business. With Hownd, you don’t have to wait for the consumer to visit before you are paid.
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