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Home » Financial Services » Payments

Block – Competitor Profile

Block (formerly Square) is a US-based payment services provider that was launched in 2009. Effective from December 10, 2021, Square changed its legal name to Block. However, the company continues to offer its merchant services under the Square brand name, enabling businesses to accept payments through methods including debit and credit cards issued by all major scheme providers, as well as NFC-based solutions such as Google Pay and Apple Pay. For offline payments, the company offers an array of traditional and mobile point of sale (POS) solutions for payment acceptance via magnetic stripe, chip, and NFC cards. It also enables online payments through Square Online Checkout and ecommerce APIs.

In addition, Block offers fund transfers to both consumers and businesses through Cash App (formerly known as Square Cash). Individuals can use the app to send money to friends and family, while businesses can use it to accept payments for goods and services. In July 2021, the company launched Square Banking, a set of financial products for businesses that helps them manage their cash flow.

As part of its inorganic growth strategy, the company continues to make acquisitions to complement its existing product offerings. In January 2022, Block acquired global buy now pay later (BNPL) platform Afterpay. The acquisition allowed Block to expand into the growing BNPL market by leveraging Afterpay’s robust customer and merchant bases.

The report provides information and insights into Block including –

– Detailed insight into its business

– Comprehensive coverage of its products and services

– Comparative assessment with key alternative payment solutions

– Information on its performance highlights as well as revenue model

– The company's important events and milestones

Scope

– In February 2009, Square was founded in the US.

– In April 2015, Square launched Square Marketing, enabling merchants to target customers through email promotions.

– In November 2020, Square announced the acquisition of Credit Karma Tax, a free mobile tax filing platform from Credit Karma. The acquisition enabled Square to offer tax filing services via Cash App.

– In December 2021, Square, Inc. changed its legal name to Block, Inc., effective from December 10, 2021. However, the company continues to offer its merchant services under the Square brand name.

Reasons to Buy

– Gain insights into Block's business operations and key events.

– Gain insights into its product portfolio.

– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.

Key Players

Block

Zettle

Table of Contents

Overview

Benchmarking

Performance Highlights

Revenue Model

Products and Services

Significant Events

Appendix

    Pricing

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