Key Sentence:
- As many consumers and businesses quickly make financial transactions from Afar.
- Fintech companies Square continues to rise to the fore in the financial technology industry.
The San Francisco-based financial services and mobile payments company, which launched its industrial bank in March, announced a new Square Banking product, which combines checking accounts, savings accounts, debit cards, and loans.
As outlined in the statement, the newly launched financial product is designed to help small business owners manage their cash flow efficiently and get more out of their hard-earned money.
“Small businesses are at the heart of our community and economy. Since its inception, Square has focused on creating easy-to-use tools and services that allow entrepreneurs to grow on their own,” said Christina Reachers, Product Manager, Square Banking.
“In the past, small businesses faced many obstacles when trying to gain access to essential financial services that are often available to larger businesses. With Square Banking, we have reimagined the financial system for small business owners with their cash flow needs at the center “We provide fair and affordable financial services that are directly linked to our suppliers’ payments, helping them get instant access to their sales, automate your savings, and receive personalized financing offers.”
Square Banking consists of three main products designed to help small business owners deal with cash flow pressures with confidence. Two new deposit accounts, Square Savings and Check Box.
While Box Savings is designed to eliminate side friction and allow sellers to save a percentage of every Box sale they make quickly, Check Box will enable sellers to spend, spend, and receive money instantly using their Kotak debit card. Nursing them receive immediate entrance to their closeouts, automate your maintenances, including secure personalized investment offers.”