Square, Inc. is a tremendously fascinating company. It has played a real role in the democratization of payments systems, enabling small-scale businesses and even solo entrepreneurs the possibility of processing digital payments without having to make significant network purchases.
Additionally, it offers complementary analytics software that provides cumulative and per unit sales data that would have required the use of an accountant’s services and significant time delays even a mere generation ago.
The company is constantly innovative, launching the recent “Cash App” that allows individuals to transfer money among themselves even outside the business context (in a spirit similar to Venmo).
It is deciding to put its data to use, as it has filed paperwork to open a bank in Utah so that it can offer deposit and lending services to individuals and businesses. Given the avalanche of data that it stores, the company would seem well-positioned to start a … Read the rest of this article!