Square, the favorite payment partner to most businesses and merchant services provider is making an effort to reach out to more countries outside the U.S. One method Square uses is transforming an iPad into a POS (point of sale), and as we speak, the company has plans to launch similar campaigns in U.K.
These tabs will cost £64 (VAT included) and will be sold along with other Square products offered in the U.K., i.e., the Square Reader, its POS app, Cash and virtual terminal app. In the U.S., a merchant looking to buy an all-in-one package can go for the Square Register which sells for $999; but this offer is not yet available in the U.K.
Square’s move comes only a year after the company set foot in the U.K. which also happens to be its first marketplace in Europe and a significant step from two of its most prominent counterparts. And recently, PayPal showed interest in iZettle also called “the Square of Europe,” promising a whopping $2.2 billion.
Market observers say that these two expansions accentuate both the difficulties and opportunities Square will face soon.
At the moment, the firm is tapping into the global market opportunity by; providing services that meet the demands of the often-ignored Micro-businesses and making the most of “The Stand” which makes a tab a very user-friendly payment terminal. However, if PayPal’s strikes a deal with iZettle, then Square will face stronger competition (PayPal has a market that’s four times larger than Square’s).
While Square may not have the masses, it has won loyalty overtime for quality services and innovations. So far, Square has two million business owners using its products worldwide. But because most micro-business owners use more than just a smartphone to accept payments and operate other sales software, the stand was a well-accepted innovation.
According to Jess Dorogusker, Square’s lead, the Square Stand was designed to provide the web-merchant with an exceptional solution that makes the payment-taking process “simple, elegant and fast.” He also added that some U.K. merchants had adopted the stand as a full countertop solution for their companies.
Square Stand made a reputation in the U.S amid the increasing adoption of smartphone and tablet. But the firm took on a more challenging task offering payments across the border in countries with different cultures, regulations and even languages. Currently, apart from the U.S, Square operates in Canada, Japan, U.K, and Australia.
Author Bio: Payment industry expert Taylor Cole is a passionate web-merchant account expert who understands the complicated world of accepting credit and debit cards at your business. His understanding of the industry has helped thousands of business owners save money and time.