Square, San Francisco based payment processing provider, historically known for its success in mobile payments with the “Square Up” payment APP, has just presented its new service to the world, “Square Market” – a place for merchants to set up an online sales platform for their goods.
The news for merchants who may be interested in taking advance of a new e-ecommerce opportunity, is that Square is advertising the service as having no cost implications other than the 2.75% that is deducted per transaction.
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The usability also seems to be relatively easy for the merchant who is required to open a Square account, list sales items, set prices and upload photos. There is also supposed to be an order-tracking mechanism in place. Further advertising for the merchant and his physical retail space is, apparently, also a possibility.
“Creating an online marketplace is our next step in making commerce easy for everyone. Square Market makes local businesses accessible to customers down the block and across the country.” said Square’s director of discovery, Ajit Varma. And even though “Square Market” is still in its fledging phase, several merchants have already bought into the idea, including men’s apparel brand Standard & Strange and others.