Square has taken its aboriginal footfall alfresco of the U.S. for its adaptable acquittal service: it is now alive in Canada. The aggregation said today that its adaptable agenda reader/processor is now accessible nationwide, priced at the aforementioned amount as in its home market: 2.75% per swipe. In the U.S. there are now 2 actor businesses application Square’s system, authoritative a absolute of $8 billion in annualized payments.
This is a assurance that the aggregation has appear acceptable on its affiance that it would alpha to accomplish its aboriginal all-embracing moves by the end of this year — a allegation that it fabricated aback it appear its latest annular of funding, a Series D of $200 million, in September. That advance reportedly admired the aggregation at $3.25 billion.
Canada is an accessible and accessible move for the company. The concrete adjacency of the country makes it potentially easier on an operational level, and there no accent barrier. It is additionally a bazaar area the alluring band at the aback of the agenda is still the best accustomed and accustomed way of processing transactions. Update: some readers acquire acclaimed in the comments that in actuality Canada uses mainly chip-and-pin, rather than the mag stripe.
“We are focused on authoritative business accessible for everyone. Aboveboard builds chargeless accoutrement for bounded businesses of all sizes and types to thrive,” said Alyssa Cutright, VP of All-embracing for Square, in a statement. “We’re captivated to acquaint Canadian businesses and their barter to the best seamless and agreeable way to do business.”
How cards get apprehend will be article that Aboveboard needs to abode aback it comes to added markets like Europe, area the chip-and-pin system, and not the mag-stripe, is the best accustomed way of processing agenda transactions. (This is area European companies like iZettle, Payleven and others could acquire an advantage and potentially serve as cardinal ally for Aboveboard aback and if it chooses to appear to Europe.)
But the dongle that is the “square” of Aboveboard is alone one allotment of the equation. Square’s affiliation with Starbucks could be a window on to addition avenue for how Aboveboard will go into added markets. Starbucks is amalgam the company’s Pay With Aboveboard app account into its own app, acceptation that users will be able to allegation their Frappuccinos and muffins via Aboveboard after the dongle anytime advancing into the equation. Starbucks’ CEO Howard Schultz has not disqualified out demography Aboveboard to the abounding markets area it offers services. What he has said is that it will be up to Aboveboard CEO Jack Dorsey to adjudge aback to accomplish that move.
We acquire been audition a lot of murmurs about area Aboveboard may go next, with some assertive Asia will be aing on the cards.
Part of today’s accord additionally includes admission to Square’s Aboveboard Register app. That is the point-of-sale arrangement that Aboveboard offers not aloof to action payments but to clue inventory, adviser all-embracing transaction reports, and adherence programs. Merchants can additionally advance their business through the Square directory. The point of auction arrangement is area Aboveboard best carefully starts to appear into antagonism adjoin the brand of Groupon, which is additionally active a agnate payment/point-of-sale artefact barrage in the anatomy of Breadcrumb.
Full absolution below.
Square Arrives in Canada
Canadians Can Now Acquire Acclaim Cards and Run their Business application Aboveboard on their Adaptable Device
SAN FRANCISCO– October 24, 2012 – Square, the aggregation authoritative business accessible for everyone, today appear availability in Canada. Aboveboard enables anyone, anywhere in Canada to acquire acclaim cards, run and abound their business.
Square’s chargeless Adaptable Agenda Reader plugs into the headphone jack of an iPhone, iPad, or Android device. Aboveboard Register is the chargeless app that enables anyone to cautiously and deeply acquire acclaim agenda payments with one simple, low transaction amount of 2.75% per swipe, with no hidden fees. Funds from swiped payments are accessible the aing business day, eliminating the delay for banknote flow.
Canada is Square’s aboriginal bazaar alfresco the US. Over 2 actor individuals and businesses can already acquire acclaim cards with Square, and Aboveboard is processing over US$8 billion in annualized payments.
“We are focused on authoritative business accessible for everyone. Aboveboard builds chargeless accoutrement for bounded businesses of all sizes and types to thrive,” said Alyssa Cutright, VP of All-embracing for Square. “We’re captivated to acquaint Canadian businesses and their barter to the best seamless and agreeable way to do business.”
Square Register serves as a chargeless abounding point-of-sale arrangement for businesses to acquire payments, clue inventory, and adviser circadian reports, allotment them to accomplish acute decisions for their business. Aboveboard Register additionally helps businesses allure new barter with accoutrement to actualize customized adherence and rewards programs as able-bodied as advertise themselves in the Aboveboard directory.
Square Register app is chargeless for download from the App Abundance and Google Play. Square’s Adaptable Agenda Reader is accessible for chargeless on www.square.ca.
About Square, Inc.
Square is authoritative business accessible for everyone. Square’s Adaptable Agenda Reader enables anyone to acquire acclaim cards anywhere, anytime at one simple rate. Aboveboard Register serves as a abounding point-of-sale arrangement for businesses to acquire payments, clue inventory, and allotment card and area information. Aboveboard Wallet, accessible in the US, is the best seamless way to pay, enabling individuals to pay with their names at their admired bounded businesses, ascertain new ones nearby, analyze card listings, and abundance receipts. Founded in 2009, and headquartered in San Francisco, Aboveboard is currently accessible in the U.S. and Canada. More advice is accessible at squareup.ca.
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