Square Notes Its Plans for Growth

Square had a fantastic quarter recently, coming off an IPO and showing its investors that, as a publicly-traded company, it can do a bang-up job of providing return to investors.

As is ever the case, it’s never enough to just be good today; it’s better to show how you can be good tomorrow as well.

Square has prepared for this eventuality, and recently dropped word on its plans for growth down the line.

While the biggest field for Square in the past was mobile point-of-sale, the ability to allow users to interface with a credit card or the like via plug-in dongle, its plans for the future were much more mobile payment focused.

Square’s system effectively allowed anyone with a tablet or smartphone to have a credit card processing machine on hand, and that was great in an era before mobile payments.

While it’s still important to have such processing capability on hand, making modifications to accommodate the new payment system of choice for many will be just as important.

To that end, Square is working on a new software and client services division, as well as bolstering Square Capital and Square Instant Deposit.

Square Capital offers loans to businesses, often for equipment upgrades and other long-term investments, while Square Instant Deposit allows for direct funds transfer from sales to bank accounts for one percent of the total.

Both programs are popular—Square Capital generated over $400 million in loans last year while Square Instant Deposit has brought in over 58,000 users since its debut last August.

With payments rapidly expanding as a market, Square seems to be actively engaging in several fields that should be helpful to merchants, though not so much in the payments field itself.

Rather that compete directly with Apple Pay, Samsung Pay and a host of others, Square looks to be working all the other facets of the merchant experience, and that should give it a real edge in the market.

It’s working angles where there aren’t near so many competitors, and that makes success more likely.

Square has already done some big things, and based on this report, it’s likely to do quite a bit more before it’s all said and done.

That should give investors some real confidence going forward, and cement Square as a real titan in the payments industry and beyond.