Square and Clover Delivering Merchant Services Beyond Payment Acceptance, 2019 Study - ResearchAndMarkets.com

DUBLIN--()--The "Square and Clover Delivering Merchant Services Beyond Payment Acceptance" report has been added to ResearchAndMarkets.com's offering.

Square and Clover Delivering Merchant Services Beyond Payment Acceptance examines the success of Square and Clover as examples of a new approach to serving small businesses using marketplaces that provide choice and flexibility while using commodity hardware.

Small businesses suffer from a lack of expertise, financial services, and capital, leading to a failure rate of close to 50% within five years of start-up, according to the U.S. Small Business Administration. However, the market has been difficult for merchant acquirers to serve, due to price sensitivity, high risk, and a high cost of sales.

Instant onboarding is the sizzle, not the steak. While digitized and fast merchant onboarding looks great, small businesses need to understand the fee schedule and the complete range of solutions and apps that directly apply to their specific operational needs and future growth, commented the author of the report.

Highlights of this research report include:

  • How Square pioneered an affordable, rapid acceptance service that appealed to a previously underserved market
  • How First Data (now Fiserv) acquired Clover to create a competitor to Square with the reach and financial capabilities of the #1 merchant acquirer
  • The introduction of the web-connected mobile point-of-sale market, combining a range of hardware solutions with a marketplace or app store approach, integrating a wide variety of apps
  • How marketplaces add to profitability by creating sources of revenue beyond commodity transaction fees
  • The restaurant sector as a key opportunity for web-enabled point-of-sale terminals

Key Topics Covered:

Executive Summary

Introduction

Merchants and Payment Providers Have an Adversarial History

Small Businesses Offer a Sizable Market Opportunity

Square mPOS as a Springboard for Small Business Solutions

  • Vertical Market Solutions Drive Engagement
  • Targeting the Life-Cycle Needs of Small Businesses

Clover Steps Up to Meet Small Merchants' Payment and Business Management Needs

  • Clover Became a Crown Jewel for First Data
  • Restaurant Solutions Drive a Key Vertical Market for Clover
  • Clover App Store Serves as a Big Toolbox for Small Business

Reading the Fine Print on Transaction Fee Schedules

Merchants React Favorably to Square and Clover

Speed of Onboarding Should Not Determine a Merchant's Choice of Payments Vendor

Conclusions and Implications

References

  • Related Research
  • Endnotes

Companies Mentioned

  • Android
  • Apple
  • Apptizer
  • Bank of America Merchant Services
  • Celtic Bank of Utah
  • Clover
  • DoorDash
  • First Data
  • Fiserv
  • Intuit
  • PayPal
  • Poynt
  • Sam's Club
  • Square
  • Walmart

For more information about this report visit https://www.researchandmarkets.com/r/j7kc73

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900