US payments firm Square is now targeting services at the Hispanic community in the US, a demographic that launched approximately 20 per cent of new businesses in 2013.
The firm is offering a number of its existing services, which are designed for small businesses, in Spanish.
These include its well-known Register, which enables merchants to accept card payments on mobile devices, as well as a dashboard of reports and analytics, and its online Market and mobile services.
In its announcement, Square referenced research that among minority groups in the US, Hispanics are the most likely to start their own businesses. And Hispanics are starting and growing new businesses at nearly twice the rate of the general population, it said.
According to research firm Pew, over 15 per cent of the US population are Latino, a fact that makes the current initiative akin to “a country launch”, said Square’s Ricardo Reyes, the executive leading the strategy, quoted in the Financial Times.
While the English language service is aimed more at cafe owners or designers – classic Square users – the Spanish service appeals to more traditional small businesses such as builders and shop owners.
Square’s card reader and software enable small businesses to accept credit cards and run a business from an iPhone, iPad or Android device.