PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Square Makes Banking Move With License Application

By Joseph Walent
September 11, 2017
in Analysts Coverage
0
1
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Banker Worker Welcome Gesture Modern Bank Office Workplace Flat Design Vector Illustration

The role Square will play in the functioning of small business in the U.S. will likely expand with the anticipated move to act as banker in addition to acquirer and financial management system. The prospect of delivering consolidated business tools and capabilities including access to loans, and depot accounts in addition to lines of credit, point of sale functionality and payment acceptance and processing further entrenches Square as central player in the small business service arena.

Square chose to apply for an industrial loan charter, opposed to a traditional banking licen[s]e, because other aspects of its business are non-financial. Industrial loan companies enjoy many of the benefits of fully-fledged banks, and are also able to be part of larger nonfinancial corporations.

Mercator Advisory Group recognizes the move by Square, if approved, will pressure community banks to further expand their own capabilities to deliver a selection of business enablement services. Further, we anticipate Square will likely be investing to extend its own business advisory and consulting capabilities to further facilitate structured and managed growth for it clients.

Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group

Read the full story here

1
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: BankSquare

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    fraud as a service

    Keeping Up with the Most Dangerous Fraud Trends of 2026

    December 8, 2025
    open banking

    Open Banking Has Begun to Intrude on Banks’ Customer Relationships

    December 5, 2025
    conversational payments

    Conversational Payments: The Next Big Shift in Financial Services  

    December 4, 2025
    embedded finance

    Inside the Embedded Finance Shift Transforming SMB Software

    December 3, 2025
    metal cards

    Metal Card Magnitude: How a Premium Touch Can Enthrall High-Value Customers

    December 2, 2025
    digital gift cards

    How Nonprofits Can Leverage Digital Gift Cards to Help Those in Need

    December 1, 2025
    stored-value prepaid

    How Stored-Value Accounts Are the Next Iteration of Prepaid Payments

    November 26, 2025
    google crypto wallet, crypto regulation

    Crypto Heads Into 2026 Awaiting Its ‘Rocketship Point’

    November 25, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result