Square launches in Spain | PYMNTS.com
Spanish entrepreneurs now have access to Square, the FinTech that provides payment solutions to consumers and businesses, the company announcement Tuesday (January 25).
Alyssa HenrySquare official said Spanish businesses can use its integrated ecosystem of products and services, including software, hardware and payment solutions, to help them launch, operate or grow their businesses.
The app allows consumers to send and receive money for free through its app and merchants to process payments through a smartphone. Last fall, Square’s Early Access Program allowed Spanish businesses to test Square’s integrated omnichannel solutions.
“We’ve tested Square’s suite of products in-store and online and love it,” Hop Hop Hurrah owner Miguel Gil said in a statement. “Having a POS system with integrated payments and omnichannel solutions has transformed the way we can run our business, making it a simple and seamless process.”
Founded in 2009 and based in San Francisco, Square is a division of Block Inc., a global technology company focused on financial services. Square said it was focused on helping small and medium-sized enterprises (SMEs) in a country where SMEs make up 99% of merchants.
Square is available in nine countries. Spain is the fourth European country and the first to launch in 2022, having launched in Ireland and France last year and the UK in 2017.
Secretary of Commerce Xiana Méndez said that for the economy to recover, SMEs and the FinTech industry must collaborate.
“The technology brought by these technological financial firms guarantees them innovative solutions in terms of payment management which can be decisive in supporting their growth,” he said in a press release.
Read more: Square, Ally, Partner to offer simplified transactions