Competitor Profile: Square
Square is a US-based payment services provider that was launched in 2009. It enables businesses to accept payments through methods including debit and credit cards issued by all major scheme providers, as well as NFC-based solutions such as Google Pay and Apple Pay.
For offline payments, Square offers an array of traditional and mobile point-of-sale (mPOS) solutions for payment acceptance via magnetic stripe, chip, and NFC cards. It also enables online payments through Square Checkout and e-commerce application programming interfaces (APIs). Square’s point-of-sale (POS) solutions are used by a number of prominent brands such as Apple, Amazon, Best Buy, Staples, Target, and Walgreens.
Square also 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. Square also extends credit to partner merchants through Square Capital. In January 2018, Square enabled its users to buy and sell bitcoin using Cash App.
The report provides information and insights into alternative payment solution Square including -
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