24 June 2017
visit www.finastra.com

Square arrives in the UK

28 March 2017  |  6283 views  |  0 Square chip card reader

Mobile POS pioneer Square has launched in the UK, it's fifth market globally.

The UK joins Canada, Japan, Australia and the US in taking the Square card reader to small traders. The reader, which retails at £39, connects via Bluetooth to a phone or tablet, and comes with a companion app that accepts card payments and includes tools such as real-time sales data, invoicing and digital receipts.

Square charges users a flat fee of 1.75% for in-person payments, and 2.5% for all other transactions such as online, by phone or via an electronic invoice, with no minimum transaction value.

Jack Dorsey, CEO of Square points to figures from Barclaycard and FSB/BIS which indicates that the average UK adult now carries less than £25 in cash, and 70% of UK shoppers prefer to pay by card. However, it is estimated that half of the UK’s 5.4 million small businesses do not yet take card payments.

He says: “We look forward to working alongside the millions of entrepreneurs and thriving independent, small and medium-sized businesses across the UK, especially those who do not yet take card payments.”

As it launches its operation in Europe, Square will be facing up to competition from a number of well-established local operators, including the UK's SumUp and Sweden's iZettle.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Square slashes chip card reader transaction times

Square slashes chip card reader transaction times

27 September 2016  |  5868 views  |  0 comments | 7 tweets | 8 linkedin
Square makes European move

Square makes European move

20 July 2016  |  7446 views  |  1 comments | 16 tweets | 28 linkedin
Square shares tank

Square shares tank

06 May 2016  |  7449 views  |  0 comments | 11 tweets | 3 linkedin
Square targets e-commerce with new API

Square targets e-commerce with new API

30 March 2016  |  7523 views  |  0 comments | 14 tweets | 13 linkedin
Square faces Oz bank concerns over mPOS security

Square faces Oz bank concerns over mPOS security

17 March 2016  |  11014 views  |  0 comments | 5 tweets | 7 linkedin
Square shares inch up on debut results statement

Square shares inch up on debut results statement

10 March 2016  |  5438 views  |  0 comments | 2 tweets | 1 linkedin
Visa reveals major Square stake

Visa reveals major Square stake

12 February 2016  |  8473 views  |  0 comments | 10 tweets | 6 linkedin
Square price sets hearts fluttering in over-heated tech sector

Square price sets hearts fluttering in over-heated tech sector

19 November 2015  |  5754 views  |  0 comments | 13 tweets | 3 linkedin
JP Morgan Chase replaces Square as Starbucks processor

JP Morgan Chase replaces Square as Starbucks processor

23 October 2015  |  9451 views  |  0 comments | 18 tweets | 13 linkedin
Dorsey stays on at Square despite becoming Twitter CEO

Dorsey stays on at Square despite becoming Twitter CEO

05 October 2015  |  3825 views  |  0 comments | 8 tweets | 3 linkedin
Square opens Australian operation

Square opens Australian operation

21 May 2015  |  6172 views  |  0 comments | 4 tweets | 7 linkedin
Square extends Cash  to businesses

Square extends Cash to businesses

23 March 2015  |  4492 views  |  0 comments | 6 tweets | 4 linkedin
Square to release chip card reader with $29 price tag

Square to release chip card reader with $29 price tag

13 November 2014  |  6878 views  |  6 comments | 5 tweets | 7 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.www.fisglobal.comvisit www.finastra.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
Live: EBAday 2017, day twoLive: EBAday 2017, day two
9202 views comments | 4 tweets | 5 linkedin
Worldpay pilots app-only mPOS for small retailersWorldpay pilots app-only mPOS for small re...
8997 views comments | 18 tweets | 27 linkedin
Live: EBAday 2017, day oneLive: EBAday 2017, day one
8377 views comments | 3 tweets | 4 linkedin
UK banks will need to change one million sort codes under ring-fencing rulesUK banks will need to change one million s...
7983 views comments | 8 tweets | 25 linkedin
What Banks and their customers can expect for the futureWhat Banks and their customers can expect...
6730 views comments | 7 tweets | 10 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job