Groupon is an unregulated check cashing company
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Groupon is an unregulated check cashing company
1–10 of 26 posts
Re: Groupon is an unregulated check cashing company
#2If you're using Groupon deals as a quick way to get some cash in order to float your business then you're doing it wrong. Considering the way Groupon's payment terms this whole premise of "using a groupon deal" to make payroll doesn't even make sense. I'm tempted to call bullshit on this whole article.
There's a lot of hate out there for Groupon, some of it deserved, but this one is a bit of a stretch.
Re: Groupon is an unregulated check cashing company
#3If you're using Groupon deals as a quick way to get some cash in order to float your business then you're doing it wrong. Considering the way Groupon's payment terms this whole premise of "using a groupon deal" to make payroll doesn't even make sense. I'm tempted to call bullshit on this whole article. There's a lot of hate out there for Groupon, some of it deserved, but this one is a bit of a stretch.
> If you're using Groupon deals as a quick way to get some cash in order to float your business then you're doing it wrong.
So if Groupon stopped giving cash up front they shouldn't lose any customers they need, right?
Re: Groupon is an unregulated check cashing company
#4A somewhat competitor slinging mud for press - cool.
Re: Groupon is an unregulated check cashing company
#5... so why is Womply any different?
Re: Groupon is an unregulated check cashing company
#6If you're using Groupon deals as a quick way to get some cash in order to float your business then you're doing it wrong. Considering the way Groupon's payment terms this whole premise of "using a groupon deal" to make payroll doesn't even make sense. I'm tempted to call bullshit on this whole article. There's a lot of hate out there for Groupon, some of it deserved, but this one is a bit of a stretch.
> If you're using Groupon deals as a quick way to get some cash in order to float your business then you're doing it wrong. So if Groupon stopped giving cash up front they shouldn't lose any customers they need, right?
> So if Groupon stopped giving cash up front they shouldn't lose any customers they need, right?
That's not strong supporting evidence. Cash up front is one of the incentives that Groupon uses to acquire customers. Dropping it would certainly lose at least a few customers. They have a shit-ton of customers, doing many things would lose them customers. But it's not the core value proposition of Groupon.
Now if Groupon stopped advertising your business and discount to their enormous email list and only gave you cash advance in exchange for future revenue and they don't lose much business, then it starts looking more like what the OP claims.
Re: Groupon is an unregulated check cashing company
#7Groupon is really good about giving credit (full value) to customers with expired Groupons. Does Groupon still payout to the businesses when they are essentially refunding purchased Groupons?
There is nothing sustainable about this model...but it works for me!
Re: Groupon is an unregulated check cashing company
#8A somewhat competitor slinging mud for press - cool.
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Re: Groupon is an unregulated check cashing company
#9Some merchants may use Groupon this way. Others use it the same way that they do any other advertising service; as a technique for getting their foot in the door, so to speak. For those who use this as a way to get fast cash, this article - and whatever service Womply is providing - may be useful. For those who use it as yet another avenue for advertising, alongside weekly coupons in the newspaper and ads on television, this article is irrelevant.
Re: Groupon is an unregulated check cashing company
#10If you're using Groupon deals as a quick way to get some cash in order to float your business then you're doing it wrong. Considering the way Groupon's payment terms this whole premise of "using a groupon deal" to make payroll doesn't even make sense. I'm tempted to call bullshit on this whole article. There's a lot of hate out there for Groupon, some of it deserved, but this one is a bit of a stretch.
Anyone that uses a check cashing business or accepts a bad loan is probably doing it wrong too, but that doesn't stop millions of people from doing those things. Regulating that kind of thing is a good idea. To be fair though, I don't know enough about Groupon's terms to say whether the comparison is fair.