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