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January 25, 2022

On the wires

December 16, 2021

On the wires

H&R Block Files Trademark Infringement Lawsuit Against Block, Inc. (Formerly Square, Inc.)

“H&R Block (NYSE: HRB) (“Block”), a leader in tax preparation and other financial services, has filed a lawsuit against Block, Inc., formerly known as Square, Inc., seeking to enjoin the latter’s infringement of Block’s family of trademarks. The goodwill and brand identity that Block has carefully cultivated and nurtured over the last 65 years is under attack by the Silicon Valley fintech company, which announced plans on December 1, 2021 to rebrand as Block, Inc.”

November 18, 2021

On the wires

Marqeta Teams Up With Square To Power Canadian Expansion of Square Card

Marqeta (NASDAQ: MQ), the global modern card issuing platform, today announced it has powered the launch of Square Card in Canada to help small business owners better manage their finances and cash flow. With the Marqeta modern card issuing platform, Square was able to scale its existing U.S. card program and expand it into the Canadian market, making it available for Square sellers of all types and sizes across the country.”

November 3, 2021

On the wires

LegalZoom Partners With Square to Offer Payment Solution to Small Businesses

LegalZoom.com, Inc. (NASDAQ: LZ), a leading online platform for legal, compliance and tax solutions, has partnered with Square to provide small business owners across industries best-in-class POS payment software and versatile operations management tools to support the growth of their business. This partnership will allow LegalZoom customers to access and receive preferential pricing on offerings available with Square the moment they form their business.”

October 29, 2021

On the web

Square Inc.’s CFO Talks Bitcoin, Afterpay and Cash App

Wall Street Journal

“Square Inc. started out in 2009 as a payment-services provider, enabling small businesses to process card payments with inexpensive white card readers and tablets. Since then, the Jack Dorsey-led company has added more services for businesses, a digital-payments service for consumers known as Cash App, a payments platform for artists and a developer platform that plans to build a decentralized bitcoin exchange.”

October 20, 2021

On the wires

Square Loyalty and Square Marketing Launch for UK Businesses

“Square has announced two new tools in the UK to help businesses grow their sales and engage customers with just a few clicks. The two tools, Square Marketing and Square Loyalty, are now available as separate subscriptions for UK businesses of all types and sizes…Businesses can also now build a loyalty program in minutes with the launch of Square Loyalty. This new to market tool can help turn one-time visitors into regulars and increase repeat visits. It’s easy to set up a customised loyalty program that rewards customers both in-store and online.”

October 4, 2021

On the wires

Square and TikTok Partner to Help Businesses Expand Their Reach Online

“Today, Square and TikTok announced a new integration that will make it easy for sellers of all types and sizes to reach new customers and grow their sales online. Square x TikTok enables sellers to send fans directly from TikTok videos, ads, and shopping tabs on their profiles to products available in their existing Square Online store, providing a streamlined shopping experience that retains the look and feel of their personal brand.”

September 16, 2021

On the wires

Square Announces Early Access Program to Its Product Ecosystem for Spanish Businesses

Square , the globally recognized software, payments, and hardware solution for all types of businesses, today announces the launch of its Early Access Program in Spain. The service, which is now available for beta-testing in Spain, offers exclusive access to an integrated set of omnichannel tools for businesses and freelancers to sell and deliver their services more easily, both in-store and online.”

September 15, 2021

On the web

September 13, 2021

Top Post

Square Offers Sellers and Consumers a New Checkout Experience With Cash App Pay


“Starting today, Square sellers will be able to accept payments through Cash App Pay, a new contactless payment method for both online and in-person transactions. With Cash App Pay, consumers can seamlessly pay with their Cash App account at participating Square sellers. For both in-person and online transactions, customers simply scan a seller’s QR code at checkout, or click a button on their mobile device for a payment process that is fast, elegantly designed, and more secure.”

September 2, 2021

On the wires

Shopistry Teams With Square, Bringing Headless Commerce to Merchants Across Channels

“Shopistry, a leading headless commerce platform for fast-growing digital-first brands, today announced a new integration with Square enabling merchants to easily launch custom commerce experiences, including web stores and mobile apps, fully integrated with Square Online and Square Payments. Now a member of the Square Solutions Partner Program and available in the Square App Marketplace, Shopistry enables growing brands the creative freedom and features to launch engaging web, mobile, and omnichannel experiences with modern capabilities out of the box.”

July 20, 2021

Top Post

Introducing Square Banking, a Suite of Powerful Financial Tools for Small Businesses

“Today, Square launches Square Banking, a suite of financial products purpose-built to help small business owners easily manage their cash flow and get more out of their hard-earned money. Coming on the heels of Square’s industrial bank, Square Financial Services, beginning operations in March, Square Banking represents a major milestone in Square’s continued efforts to expand access to financial tools for underbanked populations and marks the beginnings of the company’s journey to provide more banking solutions to small businesses…Square Banking consists of three core products designed to help small business owners confidently manage cash flow stress: two new deposit accounts, Square Savings and Square Checking, join Square’s existing lending capability, now called Square Loans. By offering essential banking tools that work seamlessly with Square’s ecosystem of solutions like payments and Square Payroll, sellers now have a single home for their entire business, gaining a unified view of their payments, account balances, expenditures, and financing options.”

July 15, 2021

On the web

Square Building New Bitcoin-Inspired Financial Services Business


Square Inc. is creating a new business line to help developers build financial services products focused on Bitcoin, according to tweets from Chief Executive Officer Jack Dorsey…The San Francisco-based digital payments company has three business lines: Cash App, Square Seller products and the music-streaming service Tidal, which it acquired earlier this year . Dorsey has long been interested in transforming Square into a broader organization with a number of standalone units.”

July 14, 2021

On the wires

Square Acquires Crew to Strengthen Workforce Management Offerings

“Square (NYSE: SQ) today announced it has acquired Crew, a frontline employee platform for consolidating and streamlining the day-to-day operations of hourly workforces. Communication is a critical element for all employers managing teams. With the acquisition of Crew, Square gains a robust workplace messaging platform that will strengthen, complement, and scale its existing labor management tools offered through Team Management , better positioning the company to meet the needs of larger, more complex sellers.”

July 13, 2021

On the web

Square Plans New iPad Payment Terminal With Built-In Tap-to-Pay


Square Inc. is developing an iPad point-of-sale terminal that will let shoppers more easily tap to pay for purchases at participating stores. The company’s current Square Stand, launched in 2013, features a magnetic stripe reader but requires an external device to handle phone payments or tap-to-pay credit cards. The new version in development integrates the tap-to-pay technology into the terminal itself, making the process more seamless. Evidence of the upcoming Square Stand is buried deep inside the company’s iPhone and iPad app.”

July 9, 2021

On the web

Square Plans to Make Hardware Wallet for Bitcoin


“Square Inc (SQ.N) will make a hardware wallet for bitcoin, the payments company confirmed in a tweet on Thursday shortly before U.S. Senator Elizabeth Warren flagged growing risks posed to consumers and financial markets by the cryptocurrency market. Bitcoin wallets can be stored offline or online at cryptocurrency exchanges, venues where bitcoin can be bought and sold for traditional currencies or other virtual coins.”

July 8, 2021

On the wires

Square Data Shows Beauty Industry Recovery As Gross Payment Volume Rises 121% Year-over-Year

“To further equip beauty and personal care merchants to future-proof and grow, Square Appointments recently released modern, seamless features that benefit businesses and their clients:

Square Online: Merchants can now create an integrated, customizable website to match the aesthetic of their business and sell their products and services online for omnichannel capabilities. Square Online saw a sizable increase in sign-ups from beauty and personal care businesses, up 296% year-to-date from January 2021 to May 2021.

Commissions: Businesses can now set commission rates for retail items and services that are automatically uploaded to Square Payroll, removing manual work and saving merchants time.”

July 6, 2021

On the wires

Square Announces Early Access Programme for French Businesses

“Square, the globally trusted software, payments, and hardware solution for businesses of all sizes, today announces an Early Access Programme in France, offering exclusive access to an integrated suite of tools to seamlessly sell in-person and online. This limited-space programme is now seeking SMEs across France who want access to the only comprehensive solution of its kind.”

June 11, 2021

On the wires

Square, Inc. Allocates $25 Million for Minority and Underserved Communities, Including $5 Million Bitcoin Endowment

“Square, Inc. announced the allocation of the remaining $25 million of its $100 million investment in support of minority and underserved communities. Square shared the ideology behind the investments in a memo outlining how companies can make similar commitments, along with information about the newly launched Bitcoin Endowment focused on financial education and access. With the company’s purpose of economic empowerment at the forefront, in 2019 Square began dedicating deposits to Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs) in communities around the country. The $100 million of investments announced in September 2020 was a continuation of Square’s commitment to increasing access to financial services.”

June 7, 2021

On the web

Square to Invest in Solar-Powered Bitcoin Mining Facility


Square Inc. will invest $5 million to build a solar-powered Bitcoin mining facility at a Blockstream Mining site in the U.S. through a partnership with the blockchain technology provider. The facility will be a “proof-of-concept for a 100% renewable energy Bitcoin mine at scale,” Blockstream said in a press release on its website. Information on operational costs and return-on-investment will be open to the public.”

May 26, 2021

On the wires

Square and Noble Partner to Digitize Live Event Concession Commerce

“Noble, the consumer-centric digital commerce and marketing platform for onsite experiences, announced today that the company has partnered with Square to provide online payment processing of food and drink for live events. A member of the Square Solutions Partner Program and available on the Square App Marketplace , the Noble platform is integrated into the Square point-of-sale (POS) to combine back and front of house operations to help live event business owners securely and easily process payments.”

May 24, 2021

On the web

Square Takes Aim at JPMorgan With Checking, Savings Accounts


Square Inc. , whose technology has already upended the way small businesses take card payments, is quietly preparing to offer checking and savings accounts to those customers, taking direct aim at behemoths such as JPMorgan Chase & Co. Square’s shares jumped on the news. Evidence of the still-unannounced plan appeared in hidden code in a recent update to Square’s app for Apple Inc.’s iPhone and iPad. The code references both types of accounts and indicates that the checking version will integrate with Square’s existing debit card for businesses. It also suggests that Square will differentiate itself by eschewing monthly service charges and fees tied to minimum balances and overdrafts.”

May 19, 2021

On the web

Payments Company Square Makes Ireland Its First Eurozone Launch


“Square (SQ.N) , the payments company led by Twitter (TWTR.N) CEO Jack Dorsey, launched its services in Ireland on Tuesday in its first eurozone foray. The San Francisco-based Square said businesses of all sizes would be able to start using its credit card reader to process payments on mobile devices, as well as the company’s other products including invoice management software…The launch comes more than four years after Square made Britain its foothold in Europe where it faces stiff competition from well-established companies such as U.K.’s SumUp and Zettle, which is owned by PayPal (PYPL.O) .”

May 14, 2021

On the web

Square Introduces New Developer Tools for Square Online And Online Selling

Digital Transactions

“At its fifth annual partner and developer conference, Square Inc. on Thursday announced three new tools for software developers: Snippets API for Square Online, Loyalty API, and the Web Payments software development kit (SDK). The new tools arrive as e-commerce volume has exploded in the past year and as larger sellers account for a greater share of Square’s volume. Snippets API, the first application programming interface for Square Online, enables developers to create online experiences that are meant to grab customers’ attention. The ability to enhance Square Online’s functionality through third-party apps ranked high atop software developers’ wish lists over the past year as e-commerce exploded due to the Covid-19 pandemic.”

May 7, 2021

On the web

Cash App Is King at Square

Wall Street Journal

“The coronavirus pandemic had a divergent effect on Square’s two main business lines. Inflows into Cash App swelled over the past year as many users deposited their stimulus checks into their digital wallets. They then used the proceeds to send money to friends and family instantly over Cash App, purchase things online with their Cash App debit cards and buy bitcoin and stocks through Cash App Investing. Square books a small fee on each of those transactions. The company counted more than 10 million monthly active users of its Cash Card during the quarter. About seven million customers used their Cash Cards every week in March, on average.”

Square Gets a Bitcoin Boost With Revenue up 266%


“First-quarter revenue rose to $5.06 billion, up 266% year over year, largely thanks to gains in bitcoin revenue. Net income for the quarter was $39 million. Gross profit grew 79% year over year to $964 million in the quarter that ended Mar. 31, according to a statement. Cash App gross profit came in at $495 million, up 171% year over year. In March, Square’s peer-to-peer competitor to Venmo began offering customers the ability to instantly send bitcoin for free.”

May 5, 2021

On the wires

Square Announces On-Demand Alcohol Delivery for Square Online Sellers

“Today Square announced the ability for sellers to offer alcohol delivery through Square Online’s on-demand delivery feature. Now, restaurants, bars, breweries, bottle shops, convenience stores, or any seller using Square Online can offer their customers the option to purchase alcohol from their website and have the order fulfilled through a delivery partner. For many restaurant and retail sellers, this offering can provide a lucrative, nearly passive, new revenue stream without the costly overhead associated with building out a delivery fleet or hiring and training additional staff…When an order is placed on a Square Online ordering page, a courier from Square’s delivery partner DoorDash is dispatched to the business location, picks up the order, delivers it to the buyer, and ensures age verification.”

April 23, 2021

On the wires

Square Announces New Inventory Management Features for Retailers

“Square announced the availability of new inventory management features for Square for Retail sellers, to help automate and improve one of the most challenging, but critical, processes businesses of all sizes face. New features like Easy Item Create, Quick Inventory Counting, and Smart-Stock Alerts provide sellers greater control over their inventory management, and improve efficiency with better ways to create, count, and reorder inventory.”

April 16, 2021

On the wires

Square Extends Lending Arm to Australian Businesses

“Square has announced it will be rolling out Square Loans in Australia, a program that helps small businesses grow by giving them quick and simple access to funds. Australia will be the first global market, outside of the US, where the payments company will launch its lending product…By using historical transaction data, Square Loans has a straightforward application process, where no paperwork is needed, and sellers get their money as soon as the next business day. Businesses will have one clear upfront loan fee which will automatically be paid back as a set percentage of daily card sales on Square — so they pay more back when sales are strong and less if things slow down. Unlike the structure of traditional loans, the cost to the seller never changes, regardless of how long it takes them to repay Square.”

March 4, 2021

On the wires

Square for Restaurants Launches in Canada to Help Recovering Industry

“Resilience has been the backbone of the Canadian food and beverage industry in recent months, as it adapts to COVID-19 restrictions. Now, restaurants across Canada can leverage the power of even more Square tools to their advantage and ever-changing needs. Launching in Canada, Square for Restaurants is an all-in-one specialized point of sale that brings the speed and ease of use that Square is best known for to all types of restaurants, breweries, cafés and bars.”

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