U.S. Markets open in 6 hrs 3 mins

Square News: Why SQ Stock Is Jumping Today

Karl Utermohlen

In the latest Square news (NYSE:SQ) the payment services provider made a big leap forward that will allow it to compete with the likes of Apple Pay in the form of a mobile payment service that allows consumers to pay for goods and services at some businesses with the Square app.

Square News

The company is mostly known for allowing small businesses to accept credit cards in their stores with its mobile application and it appears as if Square is now looking to expand its reach to mobile transactions and e-commerce. The payment company said on Wednesday that it has rolled out a software development kit (SDK) that gives businesses the option of accepting in-app payments through the app.

The goal is to give consumers and businesses more flexibility in terms of how they pay and accept payments, a move that follows the latest consumer trends in the e-commerce and brick-and-mortar worlds. The move also makes life simpler for those who have the Square app as they can use the same provider for their in-store payments, as well as their online and mobile payments.

Carl Perry, responsible for leading the company’s developer platform, said that the mobile payment technology will pave the way for a “frictionless experience across channels.” He added that this move will lead to better customer service, as well as improved loyalty from consumers.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

SQ stock is up 4.4% on Wednesday on the news.

More From InvestorPlace

Compare Brokers

The post Square News: Why SQ Stock Is Jumping Today appeared first on InvestorPlace.