Square (SQ) Boosts Presence in Canada With Square Register
Square SQ continues to make strong efforts to bolster its global digital payment footprint.
This is evident from the company’s latest launch of Square Register in Canada.
Notably, Square Register is a point-of-sale system, comprising easy-to-use software options and built-in payments, which helps sellers in managing touch-free payments, online sales, employees, contactless pickup, and delivery.
Further, it enables omnichannel commerce within minutes and provides sellers with access to all sorts of tools required for business operations. Moreover, sellers do not need to keep any tablets or other devices, and apps.
Expanding Reach to Canada
We believe that the above-mentioned useful features are likely to aid Square in gaining strong momentum across sellers in Canada.
Already businesses like Village Ice Cream, Steel N Ink, Kensington Brewing Company, Les Petits Ziboo, and Calgary Sports and Entertainment Corporation’s McMahon Stadium have started using Square Register.
The move reflects the company’s focus on helping businesses by offering cashless payment options via Square Register amid the pandemic.
Square, Inc. Price and Consensus
Square, Inc. price-consensus-chart | Square, Inc. Quote
Hence, Square remains well-poised to capitalize on the growing proliferation of cashless payments in Canada.
A survey commissioned by Square indicates that 72% of respondents in Canada are in favor of cashless buying options.
Notably, intensifying fear of contracting COVID-19 along with the imposition of social-distancing and stay-at-home mandates across the world has triggered contactless transactions.
Strengthening Global Footprints
The launch of Square Register bodes well for the company’s growing efforts to bolster its global footprint.
Apart from the latest move, the introduction of its all-in-one specialized point-of-sale called Square for Restaurants in Canada remains noteworthy.
Square recently rolled out the Early Access Programme in France in a bid to expand its reach to French sellers. Under the program, the company strives to offer access to its integrated product portfolio to businesses, especially small and medium enterprises, in France.
Further, Square unveiled the same program in Ireland to aid them to grow both in-person and online. On the back of this, the company aims to help businesses of the country in saving time and costs.
Zacks Rank & Stocks to Consider
Currently, Square carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include Advanced Micro Devices AMD, Dropbox DBX and ASML Holding ASML, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rates for Advanced Micro Devices, Dropbox, and ASML Holding are currently projected at 44.6%, 40.9%, and 33.5%, respectively.
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