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Still, he's very bullish on Groupon in the long term, saying despite there being no barrier to entry to Groupon's business, they have a high merchant renewal rate, and it's essentially come down to a two-company race between it and LivingSocial.
As companies try to escape the high merchant fees charged by credit cards, these payment choices are bound to become more common in the near future.
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Groupon CEO Andrew Mason says that the company's product expansion is the most logical thing to do when thinking about its massive scale (the company is reportedly making $500 million in annualized revenue), "Today things are different – our biggest problem is that demand is so high, merchants often wait months to be featured.
"[O]ur biggest problem," writes the Groupon Blog, "is that demand is so high, merchants often wait months to be featured.
Amazon has already launched Handmade, a service very similar to Etsy, albeit with higher merchant costs.
He and others also talked about Amazon's success in international markets, its fast-growing (and high margin) merchant market, which allows merchants to sell goods alongside Amazon, and its rapidly expanding Web services business.
The FDIC drew its list from similar "high risk" merchant lists that the payment processing industry keeps on its own.
"Duane Reade is a high-volume merchant," said Anthony Cuti, chief executive of Duane Reade.
In desperation at the plight of the shops that keep some of these buildings alive the High Street Merchants' Association has been formed to raise awareness of the slow death of one of Glasgow's oldest streets.
Mr Haberer had first moved into banking when the newly elected Socialists appointed him chief executive of Paribas, a high-powered merchant bank which they had just nationalised, in 1981.
The high-volume merchant is built on a different model.
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