Square, the company that started out providing small businesses with a credit card reader for smart phones has grown big enough to have a store of its own.
The company started by selling smartphone plug-ins that let food-truck vendors and other small businesses accept credit cards. It attracted larger merchants by offering a suite of services and software that make running a business easier.
Those services have boosted the company’s financial performance and its stock including loans, food delivery and inventory-management software.
Initially square started as a business-to-business operation focused primarily on startups that were not able to bear the heavy credit card transaction fees. In a true sense, it is not a store, since from Monday to Friday, the showroom is open by appointment only and on weekends, the public can stroll in as well. The showroom holds point-of-sale tablets, third party accessories and credit card readers including bar-code scanners and iPhone cases. Square Capital, in addition to mobile payment processing, offers small business loans and automated payroll. There is rotating selection of products, which range from handmade jewelry to fancy packs and candles.
According to the company’s hardware lead, Jesse Dorogusker, the company had plans to open showrooms in other cities too, but initially started in New York because it already has an office in SoHo and hundreds of Square customers are within walking distance; also, there is heavy foot traffic. It will be easy for those customers who have questions or concerns and often want to meet face to face rather than communicate via email or on the phone.
In addition to Square, there is another Line, called Line Friends the Japanese messaging app, which also opened a store in Times Square. Similarly Warby Parker, the fashionable and affordable eyeglass company, has also built its lineup of retail stores across the US after selling only on the internet.