Square has unveiled a fully fledged online storefront for its sellers signifying its first major foray into e-commerce; until now Square has been primarily focused on micro-merchants that operate offline with only 10% of its payments volume coming from online stores; that should be about to change now as they launch their online offerings; small merchants need to be able to compete with Amazon by offering shipping and in-store pickup which they can do with Square Online Store; Square finds themselves having to play catchup against established e-commerce offerings from companies like Shopify. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.