Daily deals site Groupon Inc (NASDAQ:GRPN) on Wednesday launched a mobile-enabled payments service, which enables customers to make payments via credit cards on their iPhone or iPod Touch.
The mobile payments segment is becoming popular with more people migrating to mobile devices.
Shares of GRPN have risen over 13% since the news came in. Overover, the stock has bounced back over 32% from its life time low of $4 earlier this month.
Groupon shares have been at the mercy of sellers in the last few months as a slowdown in Europe has impacted its revenues. The company, which offers discounted vouchers online for nail, hair, spa and restaurant services, has been hit by loss in consumer confidence and the lack of spending by consumers.
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Its shares have lost nearly three-fourths of their value since its market debut in November 2011.
The payments service launched by the company is targeted towards small businesses, who have shied away from using credit cards due to the high transactions fees,
Shares in network carrier Sprint Nextel Corporation(NYSE:S) have been showing solid gain, after its Chief Executive said that the company was ready for consolidation in the sector.
Sprint is America's No.4 network services provider. Chief Executive, Dan Hesse was speaking at an investment conference in New York.
There have been reports in the recent past of Sprint being in a position to buy companies such as MetroPCS Communications.
Verizon Wireless and AT&T are the two largest carriers in the country and have a substantial share of the market. Consolidation would create more competition for these companies.
Shares of Sprint were up over 7% on Wednesday followed by a fall of 2% in Thursday’s session. Recent, the stock was up 1.30% to $5.51.