Square - Enterprise Tech Ecosystem Series

Square is a financial technology company whose tools help businesses and individuals become part of the fintech ecosystem. The company revolutionized the payment industry in 2009 by launching Square Reader, allowing anyone to accept card payments using their smartphone or tablet. Square specializes in providing payment processors and point-of-sale (POS) solutions to sellers. The company offers software and hardware products and financial services and operates through two reportable segments: Sellers and Cash App.

This report provides insight into Square’s fintech activities, including its digital transformation strategies, technology initiatives, and estimated ICT budget.

Scope

• Most of Square’s applications run in its datacenter, but the company is now focusing on migrating these applications to the cloud. Currently, Square is at a very early stage of its cloud migration strategy. Square’s Platform and Infrastructure Engineering team, which provides the infrastructure and tooling required to operate in the datacenter, is now exploring cloud-hosting opportunities.
• In September 2020, Square launched Cryptocurrency Open Patent Alliance, a non-profit organization focused on providing members with open access to patented cryptocurrency technologies and fostering crypto innovation and adoption. The members can pool all their patents together in order to create a shared patent library.

Reasons to Buy

• Gain insights into Square’s fintech operations.
• Gain insights into its fintech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into its various product launches, partnerships, investments, and acquisition strategies.