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September 20, 2018
On the wires
Square Announces Solutions Partner Program
“Square, Inc. (NYSE: SQ) today announced the Square Solutions Partner Program to better connect sellers of all sizes with best in class partners that can build solutions specific to a business’s needs. Square small business owners who are just getting started, as well as large scale sellers with complex needs, will be able to easily identify Square approved agencies, resellers, or systems integrators. Starting today, these agencies can apply to become a part of the Square Solutions Partner Program.”
September 19, 2018
On the web
Square CFO: ‘We think we can go to the biggest businesses in the world’
Market Watch
“Square Inc., the company once known for its small payment dongles, revealed big objectives at Recode’s Code Commerce event in New York on Tuesday. “We think we can go to the biggest businesses in the world,” Chief Financial Officer Sarah Friar said at the event. She explained that the company “doesn’t see a cap anymore” when it comes to merchant size and that Square SQ, +0.12% is currently working with well-known merchants in various capacities.”
August 30, 2018
On the web
Introducing New Ways to Take Payments on Your Apple Devices and Chromebook
Square blog
“Now you can take payments in person from your Apple computer or Chromebook using Square Reader for magstripe. It’s a quick way to integrate payments into your existing workflow by turning your computer into a checkout station with Virtual Terminal.”
August 16, 2018
On the web
Square sellers no longer need signatures for card payments
endgadget
“The process uses a new “dip transaction flow” that prioritizes the parts of a transaction that are critical to security, which means less time standing in line, waiting for your card info to churn through to the issuer. More pertinently, though, Square sellers in the US and Canada can now skip collecting signatures on all card transactions.”
August 15, 2018
On the web
Square Expands Cash App Bitcoin Service to All 50 US States
Coindesk
“Mobile payments firm Square now lets customers buy and sell bitcoins via its Cash App in all 50 U.S. states. The company – which was co-founded by Twitter chief executive Jack Dorsey – announced the service expansion through a Tweet on Monday, months after the firm initially rolled out the bitcoin service to investors in the country.”
August 2, 2018
Top Post
Square Now Lets Developers Use Its Reader To Build Custom Checkout Experiences
TechCrunch
“Square, the company you know from your favorite coffee shop’s checkout counter, is opening up its Reader hardwareto developers. Using the new Square Reader SDK, developer swill be able to build their own custom checkout and point of sale experiences, no matter wether that’s a self-ordering kiosk, a mobile app for waiters or any other similar service.”
On the web
Square Sees Profits From Bitcoin Sales Double In Q2
CoinDesk
“Mobile payments firm Square said it made $37 million in revenue from bitcoin sales in the second quarter of 2018. The company released an unaudited quarterly financial report on Wednesday, which indicated it made an overall net revenue of $814 million, 6 percent of which came from the cryptocurrency buying service added to its Cash App late last year. However, with the cost of facilitating bitcoin purchases mounting to over $36.5 million in the same period, Square again chalked up a small margin of $420,000.”
July 24, 2018
Top Post
Ebay To Add Support For Apple Pay, Partners With Square Capital On Seller Financing
TechCrunch
“Ebay announced this morning it will begin accepting Apple Pay on its marketplace starting this fall, and has also teamed up with Square Capital on seller financing. The changes come following eBay’s further distancing from longtime partner PayPal, which included the company’s switch to Adyen as its primary payments processing partner, announced earlier this year. At the time, eBay said PayPal would continue to be an option at checkout, but Adyen would become the default over time.”
July 9, 2018
On the web
Payments Processor Square Inc. Withdraws Banking License Application: Statement
Reuters
“San Francisco-based payments processor Square Inc. (SQ.N) said on Thursday it had withdrawn its regulatory application to open a deposit-taking bank, but that the company plans to refile its paperwork at a later date. The fintech firm last year applied with the Federal Deposit Insurance Corp (FDIC) for a special “industrial loan company (ILC)” license that, if granted, allows nontraditional financial firms to collect government-insured deposits.”
July 2, 2018
On the web
Square CFO Sarah Friar Forecasts The Future Shape Of Finance
Quartz
There are a few mega trends, as Square’s chief financial officer Sarah Friar calls them, rippling through the financial industry: Executives are wondering if and when Amazon will take aim at their industry; banks are closing branches; and money is increasingly being passed around electronically. […] Quartz spoke with Friar at the company’s offices in Dublin about bitcoin, finance, technology, and software, which venture capitalist Marc Andreessen famously said will gobble up everything. The conversation has been edited and condensed for clarity.
June 18, 2018
On the web
Square Obtains NY State Cryptocurrency License
Reuters
“To grant the license, the financial watchdog conducted a comprehensive review of Square’s app, including its anti-money laundering, anti-fraud and cybersecurity policies, NYDFS said in statement. Square also holds a money-transmitter license from NYDFS. New York has been considered one of the strictest states for cryptocurrency businesses since June 2015, when it started requiring virtual currency firms doing business there to get a license to hold customer funds and exchange virtual coins for dollars and other regular currencies.”
How Square Made Its Own iPad Replacement
Wired
“If you know the company Square, it’s probably because you’ve paid in a store using a Square “stand,” a dock that supports a tablet, or you’ve swiped your card through Square Reader, a smartphone dongle that processes payments. These products have a soothing, decidedly Apple-y aesthetic, from the simple dongle to the all-white stand that typically houses an iPad. But since late last year, Square has been quietly selling its own custom-made tablet, the Square Register, a $999, Android-based system. And the company has taken an obsessive approach to designing the product.”
June 14, 2018
On the web
Caviar Drivers Can Now Get Paid Instantly Through Square’s Cash App
The Verge
“It’s standard practice to receive your paycheck every couple of weeks. But now Caviar, the food delivery service from Square, is launching an option for delivery drivers that’ll make the process of getting paid instant. From today forward, all of Caviar’s couriers will have the option to receive payment immediately after completing a delivery, so long as they receive the money inside Square’s Cash App. From there, they can choose to transfer the money to a bank account, or spend the money right away using the app or one of the app’s physical cards.”
May 18, 2018
On the web
Cash App Expands Cash Boost Rewards To Shake Shack, Chipotle, More
Cult of Mac
“Square’s Cash App just got far more rewarding. The Cash Boost program now offers cash back at several well-known restaurants and stores, including Shake Shack and Chipotle. Even better, now anybody can participate.”
May 9, 2018
On the web
Eye on Integrated Payments: First Data Invests in Salido While Square for Restaurants Debuts
Digital Transactions News
“First Data Corp. is betting big on integrated payments, and Square Inc. is adding a restaurant-specific point-of-sale system to capture more transactions from larger merchants. Atlanta-based First Data was one of the investors in a $12 million funding round for Salido Inc., a restaurant POS system provider, reported CNBC.com Wednesday. The site said First Data initially was interested in buying Salido and potentially adding it alongside its Clover POS system, but decided to make an investment instead.”
May 8, 2018
On the web
Square launches a service to run restaurant operations, and suddenly its ‘Caviar’ acquisition makes sense
CNBC
“Payments processor Square said Tuesday it is launching Square for Restaurants, a software platform for restaurant operations designed to bring more small businesses into the Square ecosystem. The software — which Square calls its most sophisticated software yet — ties together in one place all of a restaurant’s operations, from booking tables to managing the after-meal check.”
May 4, 2018
On the web
Square Reports Advances With Larger Merchants And Double-Digit Growth in Key Metrics
Digital Transactions News
“In this regard, the company’s new Square Register point-of-sale hardware, which it introduced last year, is proving key to penetrating a base of larger merchants. This market is important to Square because it tends to generate more revenue than Square’s traditional base of small sellers. More than half of larger sellers use multiple Square products, the company says.”
April 30, 2018
On the web
How Square’s Deal for Weebly Sets the Stage for Expansion to Bigger Merchants
Digital Transactions News
“For Square, the deal represents a major thrust into running an e-commerce operation, a move that could bring with it advantages in cross-selling a range of Square products, experts say. It also creates opportunities for Square to present integrated in-store and e-commerce processing, known as omnichannel services. to its client base as well as somewhat larger potential clients, they add.”
March 8, 2018
On the web
Square’s Cash app now supports direct deposits for your paycheck
TechCrunch
“It seems like each new feature Square adds to its Cash app brings it one step closer to being a de-facto bank account for its users. Case in point, the app just rolled out support for ACH direct deposits, meaning users can now get their paycheck or other deposits put directly into their Cash app balance.”
February 28, 2018
Top Post
Square’s Venmo competitor — the Cash app — had more than seven million customers in December
recode
“On Tuesday, Square revealed for the first time how many customers use the Cash app, and it’s a big number — seven million in the month of December alone, the company said in its quarterly letter to shareholders. (These “active customers” either received or sent money using the Cash app in the month of December. That means people who merely opened the app are not counted in the metric.)”
February 27, 2018
On the web
Square’s bets beyond a register brought in $253M last year as it posts a largely positive fourth quarter
TechCrunch
“Square is looking less and less like just the point-of-sale system that it was when it went public, though that still accounts for a significant portion of its business. But as it diversifies into new services revenue, especially with new products like Square Capital and the Cash App, it’s finding new ways to sell a growth (and stability) story to Wall Street that’s so far delivered for its shares over the past year. Those subscription- and services-based components generated $253 million in 2017, according to the company.”
January 25, 2018
On the wires
Square Acquires Entrees On-Trays, Expanding Its Caviar Footprint in Dallas-Fort Worth
“Square, Inc. (NYSE: SQ) announced today that it has acquired certain assets of Entrees On-Trays, a premier restaurant delivery service that has served the Dallas-Fort Worth metroplex since 1986. Square now welcomes to Caviar, its food ordering platform, dozens of the region’s most popular restaurants, including:”