Recently, Square implemented a new feature to their service; Square Market. This new feature allows any merchant that processes payments using the Square system to sell their goods online for no additional fee. Now when adding new items into your item library within your Square account, you can choose to offer them for sale online by adding a description, photos, and configuring shipping information and fees.Sources within the company point to data that claims users of their popular Square Register application, which turns an iPad or Android tablet into a complete point of sale system, were looking for a way to combine their customer’s in-store shopping experience with a virtual online experience that was no longer confined to their brick-and-mortar locations. By adding Square Market as an option for their merchants, local businesses can now offer their goods to customers down the block and across the country.
Along with some of the obvious perks, Square Market allows merchants to start building an online presence without the need for an expensive website or ecommerce software to integrate an online shopping cart and pay fees for a merchant account. Instead, the same 2.75% fee that is charged for any transaction through Square is applied and a merchant’s items can be made available online with just a few clicks of the mouse or touchscreen. Additionally, each merchant’s online store will be listed online on the Square website within their Square Market directory; a benefit that most online shops are not afforded which can increase exposure and visibility to other Square Market users.
Though the platform is new and is being rolled out cautiously, Square Market is the latest attempt by Square to become the world’s largest and most flexible payment gateway regardless of where you are purchasing your goods. Once merely a mobile point of sale system, Square is now taking the online payment world head on. Along with other endeavors such as the recently announced addition of kitchen tickets into to very popular Square Register application, Square Market will also keep your inventory correct between store sales and online sales using popular applications like Shopventory to track and manage all of your data.