Square payment has announced that its Online Store, Square Online Store, has been launched in the UK, which mainly provides omni-channel and Online business solutions for small and medium-sized enterprises, and provides independent website building tools. It is also the first time the company has fully integrated in the market since acquiring Weebly in 2018. After that, Square Online Store will be launched in Canada, Australia and other countries.
In April last year, Square announced the purchase of Weebly, a website building service, for $365 million. This also means that small businesses can use Weebly and Square to build corporate websites and online e-commerce platforms, and Square can expand overseas markets and their business scope.
Square is an American mobile payments company that provides payments to and from consumers and merchants, and is rapidly expanding its business.
Square payment is known for its box payments, and its payment equipment is very small and shaped like a small square box. Through a mobile card and apps app, Square has been able to successfully combine users ‘ reliance on credit card payment habits, Merchants ‘ card collection habits and mobile terminals effectively, coupled with good capital operations, the United States market a better merchant rate base, to be popular.
In November 2014, Square payments partnered with Snapchat and launched a service that helps users transfer money between each other. In 2016, Square began expanding its credit to businesses operating outside of its original payment processing system. In July 2018, it announced a partnership with eBay, giving Square payment a huge opportunity to offer commercial lending to eBay’s millions of sellers.
Square has gradually built its own payment ecosystem, including virtual Terminal, which allows merchants to receive consultants ‘ credit card payments without a card reader or app, electronic invoice software (E-invoicing) that can be collected through POS applications, E-commerce API payment software and so on.
Square’s idea is that physical merchants will be more inclined to open stores online in the future, which can be done on Weebly, while current Weebly merchants may also consider using Sqaure payment services in physical stores.
Square’s subscription and service-based revenue was a bright spot for its business, with revenue of $194 million, up 144% from a year earlier, according to its last quarter earnings report. And Square’s full-year revenue from subscriptions and service-based services was $592 million, up 134% from a year earlier.
It is understood that after the launch of Square Online Store, enterprises can start from the free entry plan provided by Square. Square offers access to integrated tools such as Instagram galleries, transportation, in-store pickup and other project services.
Square Online Store can also be used to help sellers set up meal ordering websites. On such sites, consumers can customize pickup times and prepay for online orders depending on where the store is located.
In addition, Square can help sellers build various types of e-commerce sites, and its functional settings are very broad. Many of square’s integration services can help users manage restaurants, cafes, small artist stands, pop-up retail stores, and even a comprehensive physical retail business.
On the Square Online Store, merchants can also sell a variety of physical or digital goods, event tickets and so on. In addition to the items on the list that Square forbids businesses from selling, sellers can sell almost any items that are allowed to be sold. Not only that, Square also supports changes in the price of merchants ‘ products, and sellers can create modifiers on their product management pages to modify product information or perform inventory management.
“It is vital that sellers are able to contact their buyers through any channel, whether it’s meeting, communicating online or using some Apps. ” David Rusenko, head of Square e-commerce, said in his announcement.
The service has been launched online in Canada and Australia, according to people familiar with the information. Last month, Square also launched an improved version of the Square Online Store and Square for Retail in the United States.
At present, Square has been expanding, focusing most of its efforts on building an e-commerce functional integration business, and is committed to creating an e-commerce service ecosystem that allows businesses to manage and operate almost all of their online sales operations with one login.
Now by doing payment transformation to build e-commerce ecological service System enterprises are not a few, also seems to be driven by the general trend.