Square Ecosystem Nears 1,000 Partners to Fuel Seller Growth
Global business platform Square continues to expand its partner ecosystem and now has almost 1,000 partners in its Square App Marketplace and its Square Specialists directory, the company said in a Thursday (Feb. 19) press release.
The company’s partners offer tools that sellers can access on the marketplace and integrate with Square to help them optimize their business, according to the release.
The integrations offered by these partners encompass things such as websites, booking apps, social channels, marketplaces, accounting, inventory management, fulfillment, operations, analytics and expert support, the release said.
The Square ecosystem also offers sellers exclusive partner offers, per the release.
Morgan Kuntze, global partnerships lead at Square’s parent company Block, said in the release that these offerings are part of Square’s effort to empower local businesses by providing an ecosystem that is open and interconnected.
“Sellers have the flexibility to choose how they accept payments, reach customers and run their operations,” Kuntze said in the release. “Simultaneously, Square enables our best-in-class partners to innovate, scale and reach millions of engaged businesses. By investing in both sides of this ecosystem, we’ve created a flywheel of shared success that strengthens our end-to-end network.”
Block reported in November that Square’s gross payment volume (GPV) rose 12% year over year in the third quarter, driven by traction in international markets that grew 26% compared to 9% in the United States. The company’s mix is changing, with GPV from mid-market sellers now accounting for 45% of total GPV.
PYMNTS reported at the time that this trend reveals execution against one of Square’s strategies, upmarket expansion, and signals a move away from Square’s original DNA as a small merchant enabler. The company is building a sturdier identity as a business operating platform that intersects commerce, customer relationships and financial services.
In other additions to its platform, Square extended the availability of its conversational AI assistant Square AI to the United Kingdom; expanded its partnership with inventory management reporting system Thrive to help sellers manage their catalog, sales and stock between their in-store and eCommerce platforms; and rolled out AI-powered insights, voice ordering, bitcoin payments and a mobile app for small businesses.
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