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Block's (SQ) Latest Version of Square Stand Boosts Portfolio
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Block (SQ - Free Report) has introduced the next generation of Square Stand globally in order to expand its reach to online businesses.
Square Stand is an iPad-based point of sale system that combines Square’s point of sale software and hardware. The device is equipped with an integrated contactless and dip payments technology.
Its checkout feature consisting of an order summary screen and payment options aids buyers with a smooth transaction process and thereby speed up purchases.
Sellers can leverage the device for taking in-person payments and handling e-commerce sales and deliveries. Square Stand can also help sellers to purchase online and pick up in-store orders from a single source.
Additionally, Square Stand has the ability to help sellers in catering to employee management needs like time tracking, shift scheduling and tip management. Sellers can also utilize the device for payroll, marketing, loyalty, inventory and omnichannel commerce tools.
Further, the device’s compatibility with Square’s vertical point of sale offerings — including Square for Restaurants, Square for Retail and Square Appointments — remains noteworthy.
With the help of this latest version of Square Stand, Block aims to provide a seamless commerce experience to both shoppers and sellers.
Further, the recent move is expected to drive the company’s momentum across sellers worldwide. This, in turn, will strengthen SQ’s business globally in the near term and long haul.
The latest move bodes well for Block’s growing efforts toward expanding its products and services across the globe.
Apart from the recent move, SQ rolled out the Early Access Program in Spain, France and Ireland. With the help of the program, Square offers an integrated set of omni-channel tools to businesses for seamlessly selling their products and services.
It also launched Square Invoices Plus in the United States, the U.K., Canada, Ireland, Japan and Australia to help businesses organize their invoicing requirements, get faster payments, and gain more customers.
Further, Block introduced integrated omni-channel solutions in France and Ireland to help merchants seamlessly run business operations amid the coronavirus pandemic.
Competitive Scenario
The growing initiatives are consistently helping Block to strengthen its position in the booming digital payment market where other companies like PayPal (PYPL - Free Report) and Shopify (SHOP - Free Report) are also gaining momentum globally on the back of their robust portfolio offerings.
PayPal has been benefiting from its peer-to-peer payment service, Venmo. Venmo’s improving monetization efforts and rising adoption rate across various platforms are aiding total active accounts growth, which remains noteworthy. The solid momentum of core peer-to-peer and PayPal Checkout experiences remains another tailwind.
Then again, Shopify has been winning merchants on a regular basis due to its robust product offerings, including Shop Pay and Shop Pay Installments, as well as features like end-to-end order tracking. Strength in Shopify Shipping, Shopify Payments and Shopify Capital remains another positive.
Nevertheless, Block’s robust portfolio offerings, expanding customer base and strengthening seller momentum will continue to help it remain ahead of the abovementioned peers.
Image: Shutterstock
Block's (SQ) Latest Version of Square Stand Boosts Portfolio
Block (SQ - Free Report) has introduced the next generation of Square Stand globally in order to expand its reach to online businesses.
Square Stand is an iPad-based point of sale system that combines Square’s point of sale software and hardware. The device is equipped with an integrated contactless and dip payments technology.
Its checkout feature consisting of an order summary screen and payment options aids buyers with a smooth transaction process and thereby speed up purchases.
Sellers can leverage the device for taking in-person payments and handling e-commerce sales and deliveries. Square Stand can also help sellers to purchase online and pick up in-store orders from a single source.
Additionally, Square Stand has the ability to help sellers in catering to employee management needs like time tracking, shift scheduling and tip management. Sellers can also utilize the device for payroll, marketing, loyalty, inventory and omnichannel commerce tools.
Further, the device’s compatibility with Square’s vertical point of sale offerings — including Square for Restaurants, Square for Retail and Square Appointments — remains noteworthy.
With the help of this latest version of Square Stand, Block aims to provide a seamless commerce experience to both shoppers and sellers.
Further, the recent move is expected to drive the company’s momentum across sellers worldwide. This, in turn, will strengthen SQ’s business globally in the near term and long haul.
Block, Inc. Price and Consensus
Block, Inc. price-consensus-chart | Block, Inc. Quote
Global Portfolio Expansion
The latest move bodes well for Block’s growing efforts toward expanding its products and services across the globe.
Apart from the recent move, SQ rolled out the Early Access Program in Spain, France and Ireland. With the help of the program, Square offers an integrated set of omni-channel tools to businesses for seamlessly selling their products and services.
It also launched Square Invoices Plus in the United States, the U.K., Canada, Ireland, Japan and Australia to help businesses organize their invoicing requirements, get faster payments, and gain more customers.
Further, Block introduced integrated omni-channel solutions in France and Ireland to help merchants seamlessly run business operations amid the coronavirus pandemic.
Competitive Scenario
The growing initiatives are consistently helping Block to strengthen its position in the booming digital payment market where other companies like PayPal (PYPL - Free Report) and Shopify (SHOP - Free Report) are also gaining momentum globally on the back of their robust portfolio offerings.
PayPal has been benefiting from its peer-to-peer payment service, Venmo. Venmo’s improving monetization efforts and rising adoption rate across various platforms are aiding total active accounts growth, which remains noteworthy. The solid momentum of core peer-to-peer and PayPal Checkout experiences remains another tailwind.
Then again, Shopify has been winning merchants on a regular basis due to its robust product offerings, including Shop Pay and Shop Pay Installments, as well as features like end-to-end order tracking. Strength in Shopify Shipping, Shopify Payments and Shopify Capital remains another positive.
Nevertheless, Block’s robust portfolio offerings, expanding customer base and strengthening seller momentum will continue to help it remain ahead of the abovementioned peers.
Zacks Rank and Stock to Consider
Currently, Block carries a Zacks Rank #3 (Hold)
Investors interested in the broader technology sector can consider Teradata Corporation (TDC - Free Report) , currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Teradata has gained 18.1% in the past year. The long-term earnings growth rate for TDC is currently projected at 19.5%.