Square’s Complete, Integrated Product Ecosystem Now Available en Español

Rhea-AI Summary

Square has expanded its services to Spanish-speaking business owners in the United States, making over 35 products available in Spanish. This initiative is aimed at empowering the 4.65 million Hispanic-owned businesses, providing access to tools like Square Banking and Square for Restaurants. Square has also enhanced its customer support with Spanish-speaking employees and resources. This move addresses the challenges Hispanic entrepreneurs face, including lower loan approval rates, with the goal of making financial services more accessible.

Positive

• Launch of Square services in Spanish, catering to 4.65 million Hispanic-owned businesses.
• Increased accessibility to financial services like Square Banking for underserved communities.
• Hiring of Spanish-speaking employees to enhance customer support.

Negative

• None.

Square announces that Spanish-speaking business owners in the United States now have full access to Square’s ecosystem of software, hardware and payment solutions in their own language.

Ensuring that Spanish-speaking entrepreneurs can take full advantage of products like Square´s powerful point of sale hardware, accessible financing tools, and seamless staff management solutions represents an important step in Square’s commitment to economic empowerment for traditionally underserved populations like the Latino community.

View our Media Kit: https://squareup.com/us/es/about/press-kit

SAN FRANCISCO--(BUSINESS WIRE)-- Today, Square announced that its entire ecosystem of more than 35 products and services is now available in Spanish to sellers in the United States. The more than 4.65 million Hispanic-owned businesses in the United States will now be able to use Square’s end-to-end business solutions in either English or Spanish, including key products like Square Banking to unlock access to financial services and Square for Restaurants to enable seamless, bilingual communication between front- and back-of-house staff.

“Our families have been serving Salvadorean comfort food to the LA community for generations,” said Stephanie Figueroa, co-founder of La Pupusa Urban Eatery in Los Angeles. “Times have definitely changed since the days when my grandmother sold food out of a cart in a nearby market. In order to stay ahead of the curve and take our next big leaps, we’ve used tools like Square Loans, Square for Restaurants, and Square’s Checking and Savings accounts to grow our business and make improvements to meet our vision and the needs of our customers. Being able to access tools like these in Spanish makes an enormous difference to us and similar businesses who don’t always get a fair shake at other financial institutions.”

Square offers a suite of fully integrated products that offer a one-stop solution to fit a wide range of business needs. As of today, all of these products are available in Spanish, backed up by Spanish-language customer support and resources. Today’s announcement comes after a thorough effort to guarantee that Spanish-speaking sellers can take full advantage of the ecosystem in their desired language.

In addition to translating thousands of web pages and countless products, resources and services, Square’s company-wide effort has included hiring dedicated Spanish-speaking employees across the organization. Customer support, account management, communications, and sales personnel were brought on board to ensure that the entire, end-to-end experience of partnering with Square is seamless for Spanish speakers.

“Since our founding, Square has been committed to providing businesses with the tools and services they need to thrive. As Hispanic-owned businesses continue to contribute enormously to the economy, these entrepreneurs have looked for solutions like Square to make their lives easier. Because Square succeeds when our sellers succeed, we’ve made an important effort to ensure that as we expand globally, our entire ecosystem is available in Spanish here in the United States,” said Alyssa Henry, Head of Square. “What sets Square apart is our ability to help merchants run every part of their business on one integrated, streamlined platform. Starting today, Spanish-speaking businesses will be able to unlock its full potential and better use it to start, run, and grow their businesses.”

According to the Small Business Administration (SBA), Hispanic-owned businesses represent 14% of all U.S. businesses, making them the fastest-growing segment of U.S. small businesses. At the same time, recent data from the Federal Deposit Insurance Corporation (FDIC) shows that about 12.2% of Hispanic households in America remain unbanked, and a Stanford University study found that the odds of loan approval from national banks are 60% lower for Hispanic-owned businesses than white owned businesses, when controlling for business performance.

Square’s ecosystem of products gives Spanish-speaking sellers a single, easy-to-understand home for their entire business, unlocking a variety of business-critical capabilities:

• Commerce: Square ensures that businesses can make the sale every time, whether that’s in person, over the phone, online, or through social media. Square’s powerful commerce products include:
  • Square Point of Sale
  • Square for Restaurants
  • Square for Retail
  • Square Appointments
  • Square Stand
  • Square Terminal
  • Square Register
• Banking: Square helps businesses of all sizes manage their money and provides a compelling option for entrepreneurs who have faced challenges when dealing with traditional financial institutions. Square Banking can help business owners seamlessly save, spend, and borrow as fast as they need to, with financial services integrated right at the point of sale:
  • Square Savings
  • Square Checking
  • Square Debit Card
  • Square Loans
• Staff: Square’s integrated staff services give business owners and managers the tools they need to create winning teams with full-service payroll, automated tax filings, and employee benefits all in one place. These include:
  • Square Payroll
  • Team Management
• Customers: Square helps businesses connect with their customers and maintain lasting relationships with them. In order to help sellers engage and retain customers and build lasting relationships with them, Square offers:
  • Square Loyalty
  • Square Marketing
  • Gift Cards

To learn more, please visit https://squareup.com/us/es.

About Square

Square helps sellers more easily run and grow their businesses with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. Square is part of Block, Inc. (NYSE: SQ), a global technology company with a focus on financial services. For more information, visit www.squareup.com.

Media Kit:
https://squareup.com/us/es/about/press-kit

View source version on businesswire.com: https://www.businesswire.com/news/home/20220913005361/en/

Media Contact:

press@squareup.com

Source: Square

FAQ

What new services did Square launch for Spanish-speaking business owners in the U.S.?

Square announced that over 35 products and services are now available in Spanish for Hispanic-owned businesses.

How many Hispanic-owned businesses can now access Square's services in Spanish?

Approximately 4.65 million Hispanic-owned businesses in the U.S. can now access Square's services in Spanish.

What tools does Square offer to help Spanish-speaking entrepreneurs?

Square offers tools like Square Banking, Square for Restaurants, and a variety of integrated business solutions.

What percentage of U.S. businesses are Hispanic-owned?

Hispanic-owned businesses represent 14% of all U.S. businesses.

What challenges do Hispanic-owned businesses face regarding financial services?

Hispanic-owned businesses face lower loan approval rates, being 60% less likely to be approved than white-owned businesses.