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

Blog Posts

Building a human-curated brand

If the FANG (Facebook, Amazon, Netflix, Google) sector and their measured worth are the final argument for the successful 21st Century model, then they are beyond reproach. Fine-tuning masses of algorithms to reduce human touchpoints and deliver wild returns to investors—all with workforces infinitesimally small compared to the giants of the 20th Century—has been proven out.

Will Smith

Co-founder and head of new markets, The Plum Guide

Sustainability trends brands can expect in 2020

​Marketers have made strides this year in sustainability with the number of brands rallying behind the Not Business As Usual alliance for action against climate change being a sign of the times. While sustainability efforts have gained momentum this year, 2020 is shaping up to be the year brands are really held accountable for their work in this area.

Ben King

CSR manager & sustainability expert, Finder

The trouble with Scotty from Marketing

As a Marketer, the ‘Scotty from Marketing’ meme troubles me.

Natalie Robinson

Director of marketing and communications, Melbourne Polytechnic

It's a pretty interesting article to read. I will learn more about this company later.

Dan Bullock

40 staff and 1000 contracts affected as foodora closes its Australian operations

Read more

If you think it can benefit both consumer and seller then it would be great

Simon Bird

Why Ford is counting on the Internet of Things to drive customer engagement

Read more

It's a good idea. Customers really should control their data. Now I understand why it's important.

Elvin Huntsberry

Salesforce CMO: Modern marketers have an obligation to give customers control of their data

Read more

Instagram changes algorithms every time you get used to them. It really pisses me off. What else pisses me off? The fact that Instagram d...

Nickwood

Instagram loses the like in Australia; industry reacts positively

Read more

I tried www.analisa.io to see my Instagram Insight

Dina Rahmawati

7 marketing technology predictions for 2016

Read more

Latest Podcast

More podcasts

Sign in