ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Square Brings Offline Payments to All Hardware Devices, Around the Globe

Offline payments, Square’s no-connection-required solution to deliver continuous commerce connectivity, is now available to Square sellers using every hardware device, and in every country. Whether in a remote location or facing a technology disruption, now nearly every Square seller can continue to operate business-as-usual and keep sales flowing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423968626/en/

Square Register (Graphic: Square)

Square Register (Graphic: Square)

Square has offered offline payments for 10 years, first bringing “Offline Mode” technology to the original Square Reader for magstripe in 2014. In early 2022, offline functionality expanded to Square Register and Square Terminal, Square’s proprietary end-to-end integrated devices, which provided offline coverage to about half of Square’s global seller population. Now, offline payments are available across the entire Square hardware lineup – expanding to Square Stand and Square Reader for contactless and chip – enabling nearly 90% of hardware sellers to take offline payments.

While offline payments improves Square’s reliability in the rare event when Square experiences a service disruption, it also gives sellers continuity when they choose to conduct business outside of a mobile coverage area; face a technical issue on their side, such as a disruption with their internet provider; or during a card network outage. Sellers can activate offline payments anytime in their Square settings, or in the moment when their Square point of sale detects a connectivity issue, and have 24 hours to reconnect to the internet to upload and process payments. Transaction limits are fully customizable, putting sellers in control. Offline transactions are processed seamlessly; once a seller is back online, Square automatically uploads and processes all offline sales.

While a banner in the point of sale will notify sellers when they’re taking offline payments, for consumers, the experience is frictionless, hidden, and doesn’t change their purchase experience. Generally, a buyer won’t be aware their seller is offline and can continue to use their tender type of choice, including mobile wallets in the US.

“Our recent investments in offline payments are part of our commitment to transparency, accountability, and continuous improvement,” said Cyndy Lobb, Head of Trust Platform at Square. “No technology company can guarantee 100% uptime – though we will always strive for it. What is in our control is how we communicate with and prioritize the needs of our sellers during an incident to minimize impact and preserve trust. Square has made these investments because reliability matters deeply to us, just as it does to the businesses of all sizes who partner with us to power their operations.”

Square continues to invest in platform resilience and reliability, improving both its technology and communications infrastructure to prevent disruptions and improve information sharing, so sellers can get quick answers about the source of a problem. Other recent reliability improvements from Square include:

  • In-product alerts in Square software now notify sellers real-time when a Square service disruption occurs – and when it is resolved – giving sellers an opportunity to enable offline payments, if not already enabled.
  • Sellers can also sign up through Square Dashboard to receive real-time emails and texts about service disruptions, including those that don’t impact the payment experience.
  • The redesigned IsSquareUp.com incident hub provides clearer information and regular updates about service disruptions to sellers.

To learn more about offline payments, please visit http://square.com/go/offline-payments-guide. To enable offline payments, please navigate to the settings menu in the Square app.

About Square

Square makes commerce and financial services easy and accessible with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. For more information, visit www.squareup.com.

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.