Square and Clover Delivering Merchant Services Beyond Payment Acceptance, 2019 Study - ResearchAndMa
The "Square and Clover Delivering Merchant Services Beyond Payment Acceptance" report has been added to ResearchAndMarkets.com's offering.
Square and Clover Delivering Merchant Services Beyond Payment Acceptance examines the success of Square and Clover as examples of a new approach to serving small businesses using marketplaces that provide choice and flexibility while using commodity hardware.
Small businesses suffer from a lack of expertise, financial services, and capital, leading to a failure rate of close to 50% within five years of start-up, according to the U.S. Small Business Administration. However, the market has been difficult for merchant acquirers to serve, due to price sensitivity, high risk, and a high cost of sales.
Instant onboarding is the sizzle, not the steak. While digitized and fast merchant onboarding looks great, small businesses need to understand the fee schedule and the complete range of solutions and apps that directly apply to their specific operational needs and future growth, commented the author of the report.
Highlights of this research report include:
- How Square pioneered an affordable, rapid acceptance service that appealed to a previously underserved market
- How First Data (now Fiserv) acquired Clover to create a competitor to Square with the reach and financial capabilities of the #1 merchant acquirer
- The introduction of the web-connected mobile point-of-sale market, combining a range of hardware solutions with a marketplace or app s....