Online payment service Paypal plans to enter the discount coupon market. The eBay-owned business said it planned to launch the service in the US before April 2012. Paypal's president, Scott Thompson, told the Bloomberg news agency that his firm would use its knowledge of its 103 million members' past purchases to tailor offers. The move poses a challenge to the sector's two biggest player, Groupon and Livingsocial. Daily deal businesses offer their members the chance to buy goods or services - from spa treatments and sushi to cheap flights and theatre tickets - at a steep discount. Buyers are usually limited to using the coupons within a restricted time span. The daily dealer business then splits the revenue with the organisation providing the goods. Companies may make a loss on the specific offer, but profit if customers return for repeat business. Discount deluge According to the daily deal data aggregator Yipit four of the biggest players sold ...
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