Square Introduces Free Debit Card for Businesses, Giving Sellers Real-Time Access to Funds
SAN FRANCISCO--(BUSINESS WIRE)--Jan 17, 2019--Square, Inc. (NYSE: SQ) today announced the launch of Square Card, a free business debit Mastercard that helps businesses manage their cash flow by eliminating the time between making a sale and having the funds available to spend. Square Card also encourages commerce among the small business community by offering sellers a 2.75% instant discount on purchases made at other Square sellers.
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“As sellers make crucial spending decisions, we know that fast access to funds -- and the ability to put proceeds from sales to use immediately -- can help with overall cash flow management,” said Alyssa Henry, Seller Lead at Square. “Small businesses have to be nimble. They don’t have the time to wait for funds to clear a bank account, or the resources to easily reconcile personal versus business expenses. Square Card addresses these pain points, and further extends Square’s ecosystem of products and services for small businesses.”
Square Card offers new flexibility to underserved small businesses when it comes to accessing and managing funds, allowing them to:Use Square Card anywhere Mastercard® debit cards are accepted to make crucial purchases for their business with funds that are available as soon as they have made a sale. View Square Card purchase activity alongside a comprehensive record of sales in Square Dashboard and Square Point Of Sale. Access reporting features that separate business and personal expenses, making it easier to assess a business’s financial health and track business expenses for taxes. Export Square Card transaction data from Square Dashboard in easily downloadable formats for accounting purposes. Withdraw funds at ATMs for cash purchases or expenses.
“With Square Card, the money I make from a photo session is at my fingertips so I can purchase the supplies I need to run my business -- whether that’s coffee at a client meeting, props, or a last-minute replacement lens,” said C.C. Nedrow, owner of Payton’s Photography in Montgomery, Illinois. “Tools available to sole proprietors like myself don’t always offer a simple way to separate business and personal expenses, so being able to do this all in one place with Square is amazing.”
With 2.75% instant discount on purchases at other Square sellers, business owners such as De Colores Cookies y Más are able to do something they already value while also getting a discount. “It’s a great feeling to support other small businesses since we’re all in this together. The fact that you’re also getting a reward is an added bonus,” says Ely Rooney, owner of De Colores Cookies y Más in Binghamton, New York.
Existing and new Square sellers will have access to Square Card beginning January 17, 2019. To learn more, sellers can visit http://squareup.com/business-debit-card.
About Square, Inc.
Square, Inc. (NYSE: SQ) revolutionized payments in 2009 with Square Reader, making it possible for anyone to accept card payments using a smartphone or a tablet computer. Today, Square provides tools that empower businesses and individuals to participate in the economy. This cohesive ecosystem of managed payments, hardware, point-of-sale software, and other business services helps sellers manage inventory, locations, and employees; access financing; engage buyers; and grow sales. With Weebly, sellers can build a website or online store; with Caviar, restaurants can easily offer diners delivery, pickup, and group ordering; and with Cash App, individuals can send, spend, and store money. Square is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland, and the UK.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190117005067/en/
CONTACT: Square, Inc.
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY ONLINE RETAIL HARDWARE INTERNET SOFTWARE SMALL BUSINESS MOBILE/WIRELESS PROFESSIONAL SERVICES BANKING FINANCE RETAIL
SOURCE: Square, Inc.
Copyright Business Wire 2019.
PUB: 01/17/2019 12:00 PM/DISC: 01/17/2019 12:00 PM