Groupon has debuted a nifty credit card swiper device for its merchants app.

The plug-in device turns your iPhone into a point of sale terminal, whilst still serving as a scanner for redeeming your Groupons. Taking the cost of a merchant account with any major bank into consideration, Groupon’s merchant app credit card swiper is a pretty solid idea.

“We’re confident Groupon Payments will make for a better experience between customers and employees, make merchants lives easier with the aggressively competitive rates and extensive features we’re offering, and the operating system for local commerce is becoming an exciting reality,” explained Groupon.

The swiper gets you a quick turnaround, processing payments overnight with fees ranging between 1.8 and 3.25 percent per transaction with a 15 cent fee dependent upon the type of card you use and whether or not you swipe or key-in the transaction.

You can also calculate bill totals, process refunds, redeem Groupons, and email your receipts.