Square Inc. company information
Square (NYSE:SQ) provides hardware and software for business to accept digital payments — and to track and analyze the related data.
Square's original appeal was that it allowed small and medium-sized businesses to create makeshift payment processors on the fly. Thanks to the company's hardware and accompanying software, any electronic device could be turned into a point-of-sale (POS) solution. But Square offered much more than just POS; the company allowed business owners to focus on their operations by taking care of such services as inventory, payroll, loans, etc. Square's original business model has been a huge success, and investors have taken notice. The company's stock is up by more than 1,000% since its 2015 IPO.
And while its ecosystem of sellers will remain a major strength, Square has branched out into other lines of business. Most notably, the company's person-to-person (P2P) payment app, Cash App, could be a key growth driver over the next decade. This isn't just because Cash App is a popular way to send money to family and friends. During Square's second quarter ended June 30, the app had more than 30 million monthly active customers, up from 24 million in December 2019.
Square does not pay any dividend yet.