Entering the daily deals market is not an easy task, to take on the likes of Groupon and LivingSocial (who had a combined total of 73 per cent in market shares in October) requires a lot of investment, planning and backing to make it a success.
Online payment site PayPal are now entering the market with its 150 million strong members in the first quarter of 2012. They will begin offering coupons tailored to users buying habits and smartphone locations.
The company are expected to venture into mobile deals at the start of 2012, having partnered with some of the top 200 U.S. merchants who already use their services, Bloomberg reports. By entering the market, PayPal have the potential to gain greater revenue from its members, helping it close on an estimated $7 billion by 2013, compared to the $3.4 billion earned back in 2010.
PayPal have been gearing up for this for a while with its plans to revolutionise online and mobile payment, making the company as ubiquitous in stores as credit cards like Visa are.