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

Launch marketing council Episode 5: Retailer and supplier

In our fifth and final episode, we delve into the relationship between retailer and supplier and how it drives and influences launch marketing strategies and success. To do that, we’re joined by Campbell Davies, group general manager of Associated Retailers Limited, and Kristin Viccars, marketing director A/NZ, Apex Tool Group. Also featured are Five by Five Global managing director, Matt Lawton, and CMO’s Nadia Cameron.

More Videos

Great read. I agree that it should be a perfect balance between interacting with your customers and knowing your brand. As a business, yo...

Caroline Scott

7 ways CMOs can improve their customer engagement game

Read more

Very true. Team development helps improve collaboration among the team members. I was able to improve my team's collaboration skills by t...

Quent Sinder

Why empowering others can help make you a great leader

Read more

CRM is a very good software that can help you succeed in your business. In my company, this system has allowed me to improve customer rel...

Anna Janicka

Sensis rebrands to Thryv and brings business software to Australian SMBs

Read more

AI Leasing Assistants have finally arrived for the multifamily industry. With so many to choose from it can be hard to figure out which i...

Alice Labs Pte. Ltd.

CMO's top 8 martech stories for the week - 6 May 2021

Read more

Nowadays, when everything is being done online, it is good to know that someone is trying to make an improvement. As a company, you are o...

Marcus

10 lessons Telstra has learnt through its T22 transformation

Read more

Blog Posts

Why if marketing is all you do, you’ll never be very good at it

OK, so you’re probably thinking: “Here comes another article to badger me about living in my bubble.” And also, “I bet this bubble-bashing piece will go on to explain how I can achieve better results through some heady dose of new life experiences, new routines and annoyingly different opinions on social media.”

Dane Smith

Behavioural science lead and regional consulting partner, Ogilvy

A leader’s role in rebuilding a culture of confidence

Every day, there are new predictions and studies on the future of work, the state of the economy and the unfolding global pandemic. All of which creates uncertainty and heightens the imperative of effective leadership.

Michelle Gibbings

Workplace expert, author

Confused About Your Customers?​

​I've worked in brand and marketing for more than 20 years. But there’s one area where I’ve found myself going around in circles and I must admit I'm becoming increasingly confused.

Rich Curtis

CEO, FutureBrand A/NZ

Sign in