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Square SQ has 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.
Merchants, who will enroll in the program, are not required to make any long-term contract or pay start-up fees for availing Square products. Further, they will be eligible for Square hardware.
With the underlined program, Square will aid businesses in saving time and costs,which, in turn, will help them grow both in-person and online.
Strong Seller Ecosystem: A Key Catalyst
We note that the latest move is likely to strengthen the seller ecosystem, which remains crucial.
Square’s friendly ecosystem plays a significant role in attracting sellers or merchants to its platform. The company defines larger sellers as those whomake more than $125,000 of annualized GPV and midmarket sellers as those whomake more than $500,000 of annualized revenues.
Notably, the ecosystem enables sellers to combine software, hardware and payment services in order to accept payment from customers through its wide range of online payment products.
Strong seller ecosystem contributes well to the company’s Gross Payment Volume (“GPV”), which remains the key growth metric.
Square, Inc. Price and Consensus
Square, Inc. price-consensus-chart | Square, Inc. Quote
We believe that Square is likely to gain strong traction on the back of its latest move.
Further, the move bodes well for the company’s strengthening endeavors to expand its presence in the global digital payment solutions space on the back of its expanding product and service offerings, which have been playing a significant role in shaping its growth trajectory.
Apart from the latest move, the company recently rolled out the Early Access Programme in Ireland.
Further, itsrobust products, such as Square Online Store, Invoices, Virtual Terminal, Cash App and eCommerce API are continuously driving GPV growth.
Notably, expanding the portfolio will continue to drive the company’s momentum across the seller ecosystem.
Zacks Rank & Stocks to Consider
Currently, Square carries a Zacks Ranks #3 (Hold).
Some other top-ranked stocks in the broader technology sector include Semtech Corporation SMTC, Applied Materials AMAT and Microchip Technology Incorporated MCHP. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rates for Semtech, Applied Materials and Microchip are currently projected at 12.5%, 17.97 and 15.3%, respectively.
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