Square’s new retail solution to simplify payments

Fintech Square is rolling out a new solution specifically for retailers to simplify in-store and online payments. Square for Retail will include a full suite of tools including stock and vendor management, margin reporting and more. Square says the custom-built point of sale system has been designed specifically for the complex needs of the retail industry, in Australia.

“Square for Retail has everything retailers need to work more streamlined as they get back to business as usual this year,” said Alyssa Henry, Seller Lead at Square. “After a really tough 2020, navigating forced closures and trading restrictions, Australia’s retail sector needs reliable technology platforms to help it recover.”

One-stop POS solution

The software is heavily search focused, enabling businesses to quickly and easily find customer profiles and items using a unified search bar at the top of the interface. It also supports barcode scanning for building out a customer’s cart at checkout. Using Square’s dashboard tools, businesses can also maintain and browse a smart customer directory, that tracks sales and builds profiles of shoppers.

Business Development Lead for Square Australia, Colin Birney, says Square for Retail is a welcome addition to the ecosystem of Square products now available to Australian businesses.

“Square has traditionally been a great fit for smaller market traders and boutiques, but we haven’t always been able to meet the needs of larger retailers,” said Birney. “Square for Retail enables us to scale depending on the needs of our sellers, so we can serve any retailer from a one-location shop to those with multiple locations, online channels and lots of inventory to track.”

“Retail has been one of our strongest growth sectors since we started offering payments to the Australian market. Over the past five years, our Australian retailer base has increased by an average of 78% annually, with the number of larger multi-location retailers increasing 122% annually over the same period,” said Birney.

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