Card payment business Square is teaming up with UK bank TSB.
In Brief:
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TSB will offer Square’s card readers for free to its business account customers.
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It’s hoped that the card readers will make it easier for small businesses to manage their finances.
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TSB’s SME customers will be able to track performance through Square’s realtime analytics and digital receipts.
What does this mean?
Square has done the research on this one, finding that 3mn SMEs in the UK aren’t equipped to take card payments; and those that start accepting them see their profits increase by up to 25% on average.
