Square partners with Australia’s community banks to help regional SMBs go digital
Today, global payments provider Square, Inc. (NYSE: SQ) announced it is teaming up with Unity Bank, Southern Cross Credit Union and WAW Credit Union in a string of regional partnerships that will give more small businesses outside of Australia’s capital cities greater access to innovative payments technology.
Small businesses across regional New South Wales, Victoria and Queensland will be able to benefit from the new partnerships, and will see affiliated branches provide access to the iconic Square card reader for contactless and chip for just $59. Customers will also receive fee-free card processing for their first $1,000 worth of sales to help them get started.
Square’s Country Manager for Australia and Head of APAC Ben Pfisterer welcomed the partnership news, which further extends Square’s reach in regional Australia.
“Square is excited to partner with these community-focussed organisations that provide integral financial services to small businesses across regional Australia,” he said. “It’s a big win for small business owners in regional areas when their local banking partners are willing to collaborate on a global scale to give them greater access to some of the world’s best technology solutions.”
Unity Bank CEO Mark Genovese highlighted that offering Square’s services to their small business customers reaffirmed the bank’s commitment to continually drive value.
“Working with Square allows us to offer a simple and affordable solution for digital and card payments, which can help our small business customers get their businesses up and running faster,” he said. “Small businesses are the backbone of our community and we will continue to look at ways to support this important sector to ensure they can digitise and thrive.”
The partnership news also coincides with Square’s third anniversary since launching in Australia, with the company revealing they continue to see strong growth in the number of businesses signing up to their platform, particularly across regional Australia.
“We have been humbled by the number of Australian businesses that are trusting us to help them start, run and grow,” said Mr Pfisterer. “While we have maintained a strong presence in metro areas, we’re actually seeing the fastest growth across regional communities, particularly in Werstern Australia and South Australia, which dispels the myth that entrepreneurialism and business growth is confined to big cities.”
About Square, Inc.
Square, Inc. (NYSE:SQ) creates tools that help sellers start, run, and grow their businesses. Square enables sellers to accept card payments and also provides reporting and analytics, next-day settlement, and chargeback protection. Square’s free point-of-sale software and other business services help sellers manage inventory, locations, and employees; engage customers; and grow sales. Square was founded in 2009 by Jack Dorsey and Jim McKelvey and is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland, and the UK.
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