LONDON--(BUSINESS WIRE)--Square today announced that it has launched in the UK, making it easier than ever for millions of small and medium-sized businesses across Britain to take card payments and run their business. The UK marks the fifth country where Square is available, joining existing markets Canada, Japan, Australia and the U.S.
Square helps independent traders take card payments and offers competitive and transparent rates, no monthly contracts or hidden fees, and next-day settlement on most transactions. It takes minutes to get set up, and sellers can quickly and securely begin accepting payments from Visa, Mastercard and American Express cards. Square’s card reader pairs with the free Square Point of Sale software, which includes tools such as real-time sales data, invoicing and digital receipts, all in a single app.
“We founded Square to empower small businesses with tools to accept all forms of payment and to make a sale anytime, anywhere,” said Jack Dorsey, CEO of Square. “We look forward to working alongside the millions of entrepreneurs and thriving small and medium-sized businesses across the UK, especially those who do not yet take card payments.”
The average UK adult now carries less than £25 in cash, and 70% of UK shoppers prefer to pay by card. However, it is estimated that half of the UK’s 5.4 million small businesses do not yet take card payments.
“We’re thankful to the sellers who have helped us launch today and all of our partners in the industry for welcoming us to the UK,” added Dorsey.
Most business owners already have a smartphone or tablet, which Square transforms quickly and easily into a payments terminal. To get started, business owners simply need to purchase the Square Reader for £39 from the Square Shop, connect it via Bluetooth to a phone or tablet, and download the free Square Point of Sale app, which is designed specifically with the needs of small merchants in mind. UK sellers using Square pay a competitive, transparent flat fee of 1.75% for in-person payments, and 2.5% for all other transactions such as online, by phone or via an electronic invoice, with no minimum transaction value.
“Square has been a perfect fit for my business, allowing me to easily take card payments both at the table and at the door,” said George Hudson, owner of Piano Bar Soho, where Square’s UK launch event was held today. “It’s intuitive for our staff to use with no training necessary, and the real-time sales data helps me keep track of how the business is doing, even when I’m in a remote location. I have always valued innovation and design in business, and I appreciate Square’s focus on those important elements as well.”
“Whether you’re a plumber, an accountant, a cafe or a corner shop owner, Square can help your business thrive,” said Sarah Harvey, Square UK Country Manager. “Our simple hardware, transparent pricing and our suite of business tools make it easy and cost-effective for you to accept cards and manage your payments, and for your customers to pay with their card. We’re excited to be here in the UK and can’t wait to help businesses get started with Square.”
Square, Inc. (NYSE:SQ) creates tools that help sellers of all sizes start, run and grow their businesses. Square's point-of-sale service offers tools for every part of running a business, from accepting credit cards and tracking inventory to real-time analytics and invoicing. Square also offers sellers financial and marketing services, including small business financing and customer engagement tools. Businesses and individuals use Square Cash, an easy way to send and receive money, as well as Caviar, a food ordering service for popular restaurants. Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland and the UK.