Square

Table of Contents

  1. Social Handles and URLs
  2. Key Features of the Platform
  3. Brief History of the Product
  4. Executive Team
  5. Competitors
  • Related Articles, News, & Episodes
    1. Reference Links

    • Square offers a comprehensive suite of software, hardware, and financial services designed to help businesses of all sizes start, run, and grow. Its key differentiator is its cohesive and accessible ecosystem, which integrates everything from payment processing and point-of-sale systems to e-commerce, payroll, and marketing tools into a single, easy-to-use platform.

    https://squareup.com/us/en

    Social Handles and URLs

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    Key Features of the Platform

    Square’s platform is an ecosystem of interconnected tools:

    • Payment Processing: Accept credit cards, debit cards, and mobile payments (like Apple Pay and Google Pay) in person, online, over the phone, or via invoices.
    • Point of Sale (POS) Solutions:
      • Square POS: A versatile app for any business type to manage payments, items, and tipping.
      • Square for Retail: Specialized POS with advanced inventory management, reporting, and customer relationship management.
      • Square for Restaurants: POS designed for food service with features for menu management, online ordering, table management, and delivery integrations.
      • Square Appointments: An all-in-one solution for booking, payments, and client management for service-based businesses.
    • Hardware: A range of devices including the iconic Square Reader for magstripe, a reader for chip cards and contactless payments, Square Stand, Square Terminal, and the all-in-one Square Register.
    • Online Business Tools:
      • Square Online: A platform to build a professional e-commerce website, manage online orders, and sync with in-person sales and inventory.
      • Square Invoices: Create, send, and track custom digital invoices and estimates from anywhere.
    • Business & Team Management:
      • Square Payroll: Full-service payroll, including automated tax filings and employee benefits.
      • Team Management: Tools for timecards, tip pooling, and setting employee permissions.
    • Customer Engagement & Marketing:
      • Square Marketing: Tools to create and send email marketing campaigns and automated promotions to customers.
      • Square Loyalty: A digital rewards program to encourage repeat business.
    • Financial Services:
      • Square Banking: A suite of business banking tools, including checking and savings accounts with no monthly fees.
      • Square Loans: A business loan program offering funding based on a business’s sales history with Square.
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    Brief History of the Product

    Square was co-founded in 2009 by Jack Dorsey and Jim McKelvey. The idea originated when McKelvey, a glassblowing artist, lost a sale because he was unable to accept a credit card payment. They set out to create a simple, accessible way for small businesses to accept card payments using a smartphone.

    The company launched its first product in 2010: the iconic white, square-shaped mobile card reader that plugged into a phone’s audio jack, accompanied by the Square POS app. This innovation dramatically lowered the barrier to entry for small merchants to accept credit cards. Over the years, Square expanded from a simple payment processor into a comprehensive business ecosystem, adding hardware like the Square Stand (2013) and software services like Square Capital (2014), Payroll (2015), and Square for Restaurants (2018). The company went public with its IPO in November 2015. In a move to signify its broader ambitions beyond its original merchant services, the parent company was rebranded as Block, Inc. in December 2021, with Square remaining the name of the seller-focused business unit.

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    Executive Team

    Square operates as a business unit under its parent company, Block, Inc.

    • Jack Dorsey: Head and Chairperson, Block, Inc.
    • Amrita Ahuja: Chief Financial Officer, Block, Inc.
    • Alyssa Henry: Chief Executive Officer, Square
    • Lindsey Irvine: Chief Marketing Officer
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    Competitors

    Square competes with a wide range of companies across its different product lines:

    • Payment Processing & POS: PayPal (Zettle), Stripe, Clover (Fiserv), Lightspeed, Toast (restaurant-specific), Adyen.
    • E-commerce Platforms: Shopify, BigCommerce, Wix, WooCommerce.
    • Business Management Software: QuickBooks (for payroll and accounting), Intuit Mailchimp (for email marketing), Gusto (for payroll).
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    1. Square. (n.d.). About Us. Retrieved from https://squareup.com/us/en/about
    2. Block, Inc. (n.d.). Leaders. Retrieved from https://block.xyz/leaders/
    3. G2. (n.d.). Best Square Point of Sale Alternatives & Competitors. Retrieved from https://www.g2.com/products/square-point-of-sale/competitors/alternatives
    4. Wikipedia. (2023, November 26). Block, Inc. Retrieved from https://en.wikipedia.org/wiki/Block,_Inc.
    5. Marria, V. (2019, April 29). The Inspiring Story of Square. Forbes. Retrieved from https://www.forbes.com/sites/vishalmarria/2019/04/29/the-inspiring-story-of-square/
    6. Square. (n.d.). Sell Online with Square. Retrieved from https://squareup.com/us/en/online-store
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