For offline payments, Square offers an array of traditional and mobile point of sale (POS) solutions for payment acceptance via magnetic stripe, chip, and NFC cards. It also enables online payments through Square Online Checkout and ecommerce APIs.
In addition, Square offers fund transfers to both consumers and businesses through Cash App, formerly known as Square Cash. Individuals can use the app to send money to friends and family, while businesses can use it to accept payments for goods and services. In July 2021 the company launched Square Banking, a set of financial products for businesses that helps them manage their cash flow.
As part of its inorganic growth strategy, the company continues to make new acquisitions to complement its existing product offerings. In August 2021, Square entered into an agreement with global buy now pay later (BNPL) platform Afterpay to acquire all issued shares of the latter company. The acquisition is subject to approval by relevant authorities and is expected to complete in Q1 2022. The acquisition of Afterpay will help Square expand into the growing BNPL market and enter new geographies by leveraging Afterpay’s robust customer and merchant base.
The report provides information and insights into Square including:
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance highlights as well as revenue model
- The company's important events and milestones
- In February 2009, Square was founded in the US.
- In April 2015, Square launched Square Marketing, enabling merchants to target customers through email promotions.
- In October 2017, Square launched its contactless payment and chip reader in Canada.
- In November 2020, Square announced the acquisition of Credit Karma Tax, a free mobile tax filing platform from Credit Karma. The acquisition enabled Square to offer tax filing services via Cash App.
- In August 2021, Square entered into an agreement with Afterpay, a global BNPL platform, to acquire all issued shares of the latter company. The acquisition is subject to approval by relevant authorities and is expected to complete in Q1 2022.
Reasons to Buy
- Gain insights into Square's business operations and key events.
- Gain insights into its product portfolio.
- Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Table of Contents
- Performance Highlights
- Revenue Model
- Products and Services
- Significant Events
A selection of companies mentioned in this report includes: