Square launches online marketplace service to rival eBay, Amazon and Etsy

Merchants can set up their own Square shop to reach a broader audience

Square Market
Square Market

Mobile payments company Square has launched an online marketplace, an offering that an analyst said is similar to those from eBay, Amazon and Etsy, where merchants can sell products to consumers.

Square, known for its small, magnetic-stripe card reader that allows sellers to accept credit card payments by smartphone, opened an online store to allow U.S. merchants using its system to reach a broader audience, the company said on Wednesday.

Merchants can set up an online store and create an item library. Sales made via the market and sales made in a physical store are all viewable via the Square dashboard.

Square Market will be a direct competitor to similar online marketplaces from eBay, Amazon and other e-commerce vendors, said Rick Oglesby, senior analyst with Aite Group, in an email. "But it will also be a big threat to the other payment widget makers who don't offer similar services."

Square Market requires no monthly, listing or setup fee, but Square takes a 2.75 percent commission on sales, the service's setup page said. Merchants also can apply their own shipping costs to each item.

Rival Etsy, for instance, also has no membership fee, but charges €0.20(US$0.26) to list an item, and there is a 3.5 percent commission on sales according to Etsy's website.

To attract in-person visitors, Square Market merchants can create a page that shows their business by including photos, hours of operation and location. They can run a rewards program and offer first-visit specials, and also link their Twitter feeds to the online store.

Customers with a Square account can pay with their linked credit card. Shop owners get notified of every new order via email, can view order details online and also communicate with customers if they have questions about the transaction, it added.

According to Oglesby, Square is building out a comprehensive set of merchant services that includes marketing for finding customers and boosting branding; offline and online transaction processing; and order fulfillment.

"Those that continue to think about payment processing and widgets are already missing out; they need to be thinking about end to end business services," he said.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments

Latest Videos

Conversations over a cuppa with CMO: ABC's Leisa Bacon

In this episode of Conversations over a Cuppa with CMO, ABC's director of audiences, Leisa Bacon, shares how she's navigated the COVID-19 crisis, the milestones and adaptability it's ushered in, and what sustained lessons there are for marketers as we start to recover.

More Videos

Very insightful. Executive leaders can let middle managers decide on the best course of action for the business and once these plans are ...

Abi TCA

CMOs: Let middle managers lead radical innovation

Read more

One failing brand tying up with another failing brand!

Realist

Binge and The Iconic launch Inactivewear clothing line

Read more

I am 56 years old and was diagnosed with Parkinson's disease after four years of decreasing mobility to the point of having family dress ...

Nancy Tunick

The personal digital approach that's helping Vision RT ride out the crisis

Read more

I am 57 and diagnosed in June 2009. I had a very long list of symptoms, some of which were. Keeping right arm close to my side while walk...

Nancy Tunick

Gartner survey: CMO spending hit by COVID-19

Read more

Audible did such a great job on their marketing and at the same time, there are no false promises. The support, quality, variety all good...

Vitaliy Lano

Audible's brand plan to build the value of audiobooks

Read more

Blog Posts

MYOD Dataset: Building a DAM

In my first article in this MYOD [Make Your Organisation Data-Driven] series, I articulated a one-line approach to successfully injecting data into your organisation’s DNA: Using a Dataset -> Skillset -> Mindset framework. This will take your people and processes on a journey to data actualisation.

Kshira Saagar

Group director of data science, Global Fashion Group

Business quiet? Now is the time to review your owned assets

For businesses and advertiser categories currently experiencing a slowdown in consumer activity, now is the optimal time to get started on projects that have been of high importance, but low urgency.

Olia Krivtchoun

CX discipline leader, Spark Foundry

Bottoms up: Lockdown lessons for an inverted marketing world

The effects of the coronavirus slammed the brakes on retail sales in pubs, clubs and restaurants. Fever-Tree’s Australia GM Andy Gaunt explains what they have learnt from some tricky months of trading

Andy Gaunt

General manager, Fever-Tree Australia and New Zealand

Sign in