Square Inc., The white payment terminals are used by pop stores across the U.S. , benefited in the third quarter from its expansion into bigger businesses. The San company reported that gross payment volume rose by nearly one-third to $17.4 billion. Larger merchants were responsible for nearly half of that volume, a customer base that Square has been actively dealing with. It recently launched a new payment device with discounted processing costs made specifically for larger retailers. Square hopes to make money from the Cash app through interchange fees. It has launched virtual and plastic prepaid cards tied to the balances users hold in their accounts.
This is an example of quantity over price, Square Inc is selling cheaper product with the discounts, but are selling in much more volume to bigger retailers. Square has been one of the best performing technology stocks of 2017. Square Capital, the company’s lending arm, extended $303 million in small-business loans during the third quarter. That is an increase of 45% from the same period of 2016, but a decrease of 5% from the second quarter.
I have actually changed the way I process card transactions from Bank of America's to Square to their "price". I started using Bank of America's transactions system and they hid a lot of fees to the point where it was costing me a lot of money out of my earned income from my business. Square definitely changed the game!
ReplyDeleteI agree, Square Inc product are doing their best to step up their game and I believe they are doing so. Their products have helped a lot of people and those retailers to use it regarding the transaction payments. I heard it that it doesn't take that much of fees. So, I think that's good in terms of saving money.
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