In this video, Tom and I chatted about how digitalisation (part of our disruptive technology portfolio) is vital for emerging markets to not only catch-up, but also outcompete traditional business practices across the planet!
A staggering 3.8 billion adults remain unbanked, most of whom are women - this is something that needs to be addressed!
What does Square Up do?
Square Up believe everyone should be able to participate and thrive in the economy—so we’re building easy tools to empower and enrich everyone
How are they doing it?
More than just a ‘card reader’ - it’s a powerful tool that let’s any small business grow in a data-driven methodical way.
Small-sized and medium-sized businesses, which are important engines of macroeconomic growth in many countries, still struggle for access to affordable capital, which can hamper their ability to compete, innovate, and have a positive economic impact. Square Up want to focus on this market to help provide financial inclusion for everyone!
What does the future hold for them?
One of the cool areas they want to expand into is Japan
- Only 20% of the current payments in Japan are made by card
- There are almost 4 million small-medium sized businesses in the country
- The METI stated their ambition of doubling card transactions up to 40%, by 2025.
The Bus Café is precisely what it sounds like – a cosy local eatery set in a vintage 1980 Bristol VR double-decker bus.
One of the biggest time wasters for them was handling cash, and they lost out on a lot of business from people that weren’t carrying any money!
By using digital tills in the café, they could spend more of their time on the business and serving customers. The number of customers they had to turn away was staggering!
Square made it easy for the team of three to transform their passion into a 7 day a week operation!
Check out the video, hear what Tom thinks about impact investing and let us know in the comments below!
Me and Tom are more than happy to respond to any questions you have!
(All data, statistics and information was gathered by myself researching the Square Inc annual reports and investor relations section of the website!)