News stories featuring Square:
November 10th, 2016
The value of mobile payment transactions made in the US is expected to rise 183.3% this year to US$27.67bn, more than doubling next year and reaching US$314.13bn by the year 2020, research released by eMarketer…
October 24th, 2016
America’s biggest banks have launched a money-transfer app to compete with PayPal, Venmo and Square Cash, Reuters reports. Zelle, developed by bank-owned Early Warning Services, is built on top of a payments network that connects the country’s five biggest banks — and others — including Chase, Citi and Bank of America. Another 20 banks will be added early next year. “This is about creating a wide, and inclusive, alternative to cash and checks for everyone,” says Early Warning Services chief executive Paul Finch.
September 27th, 2016
Square’s contactless chip reader is now available in Australia, enabling businesses to accept contactless transactions and NFC mobile payments. It will retail at $59 (US$45.11). The company began rolling out its first contactless readers in November 2015. When Square launched in Australia in March this year it initially opted not to make tap-and-go available, saying it would be “too expensive and too big” to fit the company’s signature shape.
September 5th, 2016
Nearly half of US millennials (45%) have made an NFC mobile payment, compared to 26% of non-millennials (those aged over 35), research from mobile POS provider Square reveals. “The consumers who use NFC are really into it — most cite it as their ideal payment method above credit cards,” Square says in a blog post. 77% of the 1,000 consumers surveyed have not yet tried NFC mobile payments. Nearly 75% of cards processed on Square now contain a chip, up from around 40% in September 2015.
July 20th, 2016
Mobile POS provider Square has incorporated a business called Squareup Europe in the UK, suggesting that the company could be setting itself up for its first European launch. “Squareup Europe has permission to provide payment services such as transactions with or without credit lines in Britain,” Reuters reports. “Square began beta testing of its payments system in London last month to prepare for an initial launch in Britain.”
July 8th, 2016
Customers who pay using NFC mobile payments are more likely to leave a tip, according to a survey by mobile POS provider Square. 73% of customers tipped when using NFC mobile payments compared to 71% who tipped using EMV and 67% who paid using magnetic stripe cards at the point of sale.
June 2nd, 2016
Square’s contactless chip reader can now be paid for in instalments of US$1 per week for 60 weeks. “We know that cash can be tight as you are getting your business up and running but that doesn’t mean you should miss out on the best technology available,” the company says. CEO Jack Dorsey revealed in March 2016 that Square has received more than 350,000 pre-orders for the reader. The company began rolling out its first contactless readers in November 2015.
March 11th, 2016
Square has received more than 350,000 pre-orders for its contactless chip reader, CEO Jack Dorsey revealed during the company’s fourth quarter earnings call. “We’re seeing a huge demand for the reader and we’re taking full advantage of the shift to chip cards and contactless,” Dorsey said. “We want to be able to associate our logo with the ability to pay with your phone. We’re betting big on NFC.” Square began rolling out its contactless readers in November 2015.
March 8th, 2016
Mobile POS provider Square has launched in Australia, enabling retailers across the country to accept credit and debit card payments using their mobile phones. “Australia marks the fourth market for Square, joining the US, Canada and Japan,” the company says. Square’s contactless chip reader does not appear to be available in the country, however, as “tap-and-go would have made the device too expensive and too big,” Square country manager Ben Pfisterer told the Sydney Morning Herald.
March 3rd, 2016
Nearly six in ten US millennials (58%) say cash is their preferred way of paying and being paid by friends, followed by P2P payment apps (26%), cheque (8%) and electronic bank transfer (8%), GOBankingRates reveals. Of the 26% who chose P2P payment apps, 11% prefer PayPal, followed by Venmo (6%), Google Wallet (5%) and Square Cash (4%).
February 15th, 2016
Visa has revealed it has a 9.99% stake of Class A shares in mobile POS provider Square. The payment network holds more than 4m of Square’s Class B shares which don’t trade publicly but can be converted to approximately 3.52m in Class A shares, according to an SEC filing. Square filed for an initial public offering in October 2015 and began shipping its NFC device in December.
February 4th, 2016
November 23rd, 2015
Mobile POS provider Square is rolling out the first of its $49 contactless readers to 100 US businesses, allowing them to accept chip cards, contactless and NFC payments including Apple Pay. “The first group of businesses to use Square’s new reader include Honey Butter Fried Chicken in Chicago, Philz Coffee in San Francisco, Sump Coffee in St Louis, Cafe Grumpy in New York City and all 20+ merchants in the Urbanspace Vanderbilt food hall in New York,” the company says.
October 15th, 2015
Mobile POS provider Square has filed for an initial public offering following reports that the company was planning to do so in July 2015. “The number of shares to be offered and the price range for the offering have not been determined,” the company says. “Square intends to list its common stock on the New York Stock Exchange under the ticker symbol SQ.”
September 25th, 2015
Mobile POS provider Square will begin shipping its EMV and contactless chip card reader in December 2015. “If you preorder a contactless and chip card reader, Square’s Liability Shift Protection is available to you for free, from the moment you preorder until your reader arrives,” the company says. Square unveiled the NFC mPOS terminals during Apple’s WWDC in June 2015 and offered the first 250,000 free of charge.
August 25th, 2015
July 27th, 2015
Mobile POS provider Square is reportedly set to go public after the company filed confidentially for an initial public offering. “Square has been working with Goldman Sachs Group, Morgan Stanley and JPMorgan Chase & Co,” Bloomberg reports. The company first surfaced in 2009 and most recently unveiled a new mobile POS device to enable small traders to accept Apple Pay in the US.
June 10th, 2015
Square will give away 250,000 of its NFC mPOS terminals unveiled during Apple’s WWDC this week. “We need to push hard on getting readers to businesses, which is why we are giving 250,000 of the first wireless readers away for free,” Square CEO Jack Dorsey told Fortune, with readers available to buy in Apple stores “come the fall”.
June 8th, 2015
Apple Pay will be available in the UK from July 2015, vice president of Apple Pay business Jennifer Bailey has announced at the iPhone maker’s Worldwide Developers Conference (WWDC). Users of the mobile payments service will also be able to add store credit, debit and loyalty cards to their Apple mobile wallet from “this fall”.
March 12th, 2015
Square has bought Kili Technology, the Canada-based mPOS startup that acquired NFC-on-microSD pioneer DeviceFidelity in November 2014. Together, says Square, “we’ll continue to lead the way in delivering simple and affordable hardware that gives our sellers a smarter and safer way to do business”.
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