Point-of-sale (POS) provider Square has announced that itseeks to expand its client base by making its Register point-of-sale softwareavailable to businesses worldwide. To date, Square has avoided processing paymentsor selling its Reader and Stand card acceptance hardware outside of NorthAmerica.
However Square recently announced that it was launching achip card reader to prepare for the US’s upcoming move to EMV and convenientlythis new EMV enabled POS makes the company’s hardware more attractive tocompanies globally as many countries, particularly in Europe have close to 100%EMV penetration.
Commenting on the news, Jack Dorsey, CEO of Square said, “Thecash register was invented to solve the basic pain points of running abusiness, like recording sales. Our Register empowers sellers to drill intotheir business with sophisticated reporting tools to run and grow theirbusiness.”
With Europe and other markets seeing an influx of mobile POSdevices following Square’s launch a fewyears back, Square may have waited too long to enter international markets. Thedelay will result in increased competition for Square and make it moredifficult to become successful outside of the North American market.
Overview by Tristan Hugo-Webb, Associate Director, International Advisory Service for Mercator Advisory Group
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