Square Launched in the UK

Square Launched in the UK
29.03.2017 08:15 am

Square Launched in the UK

Payments

Square has launched in the UK, making it easier than ever for millions of small and medium-sized businesses across Britain to take card payments and run their business. The UK marks the fifth country where Square is available, joining existing markets Canada, Japan, Australia and the U.S.Square helps independent traders take card payments and offers competitive and transparent rates, no monthly contracts or hidden fees, and next-day settlement on most transactions. It takes minutes to get set up, and sellers can quickly and securely begin accepting payments from Visa, Mastercard and American Express cards. Square’s card reader pairs with the free Square Point of Sale software, which includes tools such as real-time sales data, invoicing and digital receipts, all in a single app.

“We founded Square to empower small businesses with tools to accept all forms of payment and to make a sale anytime, anywhere,” said Jack Dorsey, CEO of Square. “We look forward to working alongside the millions of entrepreneurs and thriving small and medium-sized businesses across the UK, especially those who do not yet take card payments.”

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.

“We’re thankful to the sellers who have helped us launch today and all of our partners in the industry for welcoming us to the UK,” added Dorsey.

Most business owners already have a smartphone or tablet, which Square transforms quickly and easily into a payments terminal. To get started, business owners simply need to purchase the Square Reader for £39 from the Square Shop, connect it via Bluetooth to a phone or tablet, and download the free Square Point of Sale app, which is designed specifically with the needs of small merchants in mind. UK sellers using Square pay a competitive, transparent 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.

“Square has been a perfect fit for my business, allowing me to easily take card payments both at the table and at the door,” said George Hudson, owner of Piano Bar Soho, where Square’s UK launch event was held today. “It’s intuitive for our staff to use with no training necessary, and the real-time sales data helps me keep track of how the business is doing, even when I’m in a remote location. I have always valued innovation and design in business, and I appreciate Square’s focus on those important elements as well.”

“Whether you’re a plumber, an accountant, a cafe or a corner shop owner, Square can help your business thrive,” said Sarah Harvey, Square UK Country Manager. “Our simple hardware, transparent pricing and our suite of business tools make it easy and cost-effective for you to accept cards and manage your payments, and for your customers to pay with their card. We’re excited to be here in the UK and can’t wait to help businesses get started with Square.”

Related News

BNY Mellon automates global payment inquiries, becoming the first US bank to offer SWIFT gpi Case Resolution service

BNY Mellon has recently collaborated with SWIFT to be the first U.S. bank to offer the gpi Case Resolution service to clients, and the fifth globally. This... Read more »

EDPIA welcomes SIA as a new member

The European Digital Payments Industry Alliance (EDPIA) is happy to announce that SIA, a leading European hi-tech company in payment services... Read more »

Paymentology works with Utility Warehouse to help customers reduce their bills

Utility Warehouse (UW), has selected cloud-based payment processing platform, Paymentology, to process its cashback card transactions. UW... Read more »

Global payments firm Sokin partners with Jumio to disrupt the world of cross-border transfers

Sokin, the new generation payments firm, has announced a partnership with Jumio to introduce the latest digital identity verification... Read more »

Bottomline boosts the way businesses collect cash with Pay Direct

Bottomline (NASDAQ:EPAY), a leading provider of financial technology that makes business payments simple, smart and secure, today announced the launch of Pay... Read more »

Inaugural Publicis Sapient report finds at-home experiences will remain the new normal post-COVID

Despite global lockdowns lifting, COVID-19 has increased the pace of digital transformation exponentially, and consumers have shown a substantial step-change in a more... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel