Wednesday, 03 May 2017 14:31

Square payment systems' first year milestones

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Square has completed a year in Australia and has serviced more than 60,000 merchants with its Square Point of Sale, Square Reader, Square Invoices, Employee Management, Virtual Terminal, E-Commerce, and Payment APIs.

Square’s country manager Ben Pfisterer highlighted the company’s achievements.

  • 13% weekly average growth in transactions processed with Square across all products.
  • Over 80% of sellers did not accept card payments through a traditional payment terminal prior to using Square.
  • 10% weekly average growth in invoices paid online with Square.
  • 20% weekly average growth in e-commerce transactions processed using Square’s APIs.
  • Eight new products and services deployed in the past six months, including tools to accept tap-and-go card payments, Apple Pay, electronic invoices, process payments online and more to effectively manage employees and multiple locations.
  • Over 25 integrations with major partners, including Intuit QuickBooks Online, Xero, Deputy, Ecwid, Weebly, BigCommerce, WooCommerce, Wix, Vend, Abacus and PosBoss.

“Australia’s 2.2 million small to medium-sized businesses are critical to productivity, creating jobs and helping to grow our economy. We’re proud to be building a powerful and accessible point of sale and payments ecosystem that enables over 60,000 Australian sellers to leverage one or more of our world-class products to grow their businesses,” said Pfisterer.

Square is experiencing a 75% - 95% quarterly average growth in new sellers, particularly in verticals such as hospitality, retail, beauty, health, and trade services.

While there has been strong uptake across the country, Square is growing at an above-average rate in Tasmania and Western Australia – both over 100% quarterly average growth in new sellers.

Part of the reason behind the solid growth is the ability to scale beyond major metro areas via partnerships with Australia’s leading retailers, including Officeworks, Australia Post, Harvey Norman, Apple, and Optus, giving sellers around 1000 locations nationally where they can purchase Square Reader.


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Ray Shaw

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Ray Shaw ray@im.com.au  has a passion for IT ever since building his first computer in 1980. He is a qualified journalist, hosted a consumer IT based radio program on ABC radio for 10 years, has developed world leading software for the events industry and is smart enough to no longer own a retail computer store!

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