“Square is wisely going after a particular segment” of merchants, says Todd Ablowitz, president of Double Diamond Group LLC in Centennial, Colo. “They are very clearly crafting a business around the needs of that new sector.”
Those merchants could be art dealers or consultants who do a few transactions per month or food purveyors whose trucks drive to different locations within a specified area, observers say.
“Square found a segment of merchants that are underserved, and they are going to try to cater to them,” Ablowitz says.
Payments Source, February 9, 2011
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