What to Know About Block
Block, formerly Square, is a financial technology company founded in 2009 by Jack Dorsey and Jim McKelvey. Originally focused on developing a point-of-sale system for small businesses, Block has since expanded its offerings to include peer-to-peer payments, online payments, and banking services. In 2021, the company officially changed its name from Square to Block to better reflect its broader range of products and services.
Some key things to know about Block include:
* Point-of-sale systems: Block's original product, the Square Point of Sale, is a mobile card reader that allows small businesses to accept credit card payments. The system is simple to set up and use, and it offers a variety of features, including inventory management, invoicing, and analytics.
* Peer-to-peer payments: Block's Cash App is a peer-to-peer payment service that allows users to send and receive money between friends and family members. The app is free to use, and it offers a variety of features, including instant transfers, direct deposit, and investing.
* Online payments: Block's Square Online is an e-commerce platform that allows businesses to create an online store and accept payments from customers. The platform is easy to use, and it offers a variety of features, including mobile commerce, inventory management, and shipping.
* Banking services: Block's Square Banking offers a variety of banking services to small businesses, including checking accounts, savings accounts, and business loans. The services are designed to be simple and easy to use, and they offer competitive rates and fees.
Block is a publicly traded company on the New York Stock Exchange (NYSE: SQ). The company is headquartered in San Francisco, California, and it has offices in several other countries around the world. Block employs over 10,000 people, and it generates over $1 billion in revenue each year.
Block is a leading player in the financial technology industry, and it is rapidly expanding its reach. The company has a strong track record of innovation, and it is well-positioned to continue to grow in the years to come.