Square, specialized in software and hardware solutions to manage digital payments for companies of all sizes, has announced its arrival in the Spanish market with the firm intention of becoming the main alternative of its kind for companies and entrepreneurs in the country. Spain thus becomes its fourth European marketafter landing in Ireland and during 2021 and in 2017.
In any case, Square has spent months developing a early access program in Spainwhich began in September 2021 with limited places for beta testers, and had registrations from companies and freelancers from multiple sectors, such as restaurants and hotels, professional services, beauty, retail, as well as health and welfare.
“We’re excited to expand Square’s solutions in Spain, helping business owners manage everything end-to-end with integrated software, hardware, and data analytics, while making it easy for them to accept card payments.“, it states Alyssa Henry, Head of Square. “Spanish businesses of all types and sizes will now be able to use our integrated ecosystem of products and services to grow, adapt and manage their operations”.
For its part, the Secretary of State for Commerce, Xiana Mendez, expressed that «For a quick economic recovery, SMEs and the fintech industry must go hand in hand. SMEs must evolve at the same speed as the market and, thanks to fintech, they can do so easily, quickly and conveniently. The technology provided by these technological financial companies guarantees them innovative payment management solutions that can be decisive in supporting their growth. In Spain, Square will find a very promising market”.
What Square offers
Square is characterized by offering a pack of digital payment tools and services vendors, a series of products that integrate with each other and provide solutions for a wide variety of business needs. A set of solutions that seek to save companies time and that go through the acceptance of different forms of payment either with a physical card or online, the store inventory management and they go as far as software for restaurant kitchen management, appointment scheduling, customer billing, employee management, and e-gift card sales, among others.
Highlights of Square’s comprehensive software solutions for sellers include the ability to have software and POS equipment adapted to any business: three POS (point of sale) software products and three payment terminals, offering both online and offline businesses ready-to-use software.
Among the characteristics that Square itself highlights in its proposal are that it does not require a long-term commitment or subscription fees from sellers who use its services, to whom Square charges a fee for each transaction made through its terminals. This, and the sale of the terminals, are the main lines of business for Square, which presents itself as an operator oriented towards small businesses and omnichannel-oriented companies.
Products and services offered by Square include:
- POS Square, your terminal for card payment management
- Square for restaurants combines the POS system of Square with a set of integrated tools specific to the hospitality industry.
- Square Online Sales: is Square’s e-commerce platform that automatically syncs inventory and orders with any Square POS, offering businesses a variety of tools in different areas: from enabling online shopping and in-store pickup for businesses stores, to an ordering platform with QR codes that allows diners to order and pay from their mobiles.
- Online payments: offers a way to sell online faster through buy buttons and payment links.
- Virtual terminal: allows you to use a computer to receive payments remotely.
- Square Invoices: helps businesses and self-employed businesses send professional-looking digital invoices and quotes and get paid faster.
- Electronic gift cards: They can be sold online and in the store, in order to help drive sales and attract new customers.
Square, a company run by Jack Dorsey, former CEO of Twitter
Despite the fact that it has just landed in Spain, Square has already been a recognized company in other markets for years. Founded in 2009 and headquartered in San Francisco, it is currently present in nine countries, where it has two million businesses that use its services.
Square belongs to Block, a parent company run by Jack Dorsey, former CEO of Twitter, This change is intended to give the company, as a corporate entity, a name that integrates its different businesses that have expanded considerably in recent years, for example with Tidal, its music streaming service, CashApp, an online payment application and TBD54566975 , its open development platform that allows easy access to bitcoin and other cryptocurrencies.
Photo: Square
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