In 2009 Jim McKelvey together and Jack Dorsey laid the foundation stone of an advanced payment service system. The headquarters of the company is situated in San Francisco. Square is an electronic payment or financial service that processes digital payment in America. It is a hassle-free small business platform using which debit/credit card payments can be done on any mobile device.
In November 2015, the company started to trade in the NY Stock Exchange as a public company. Before this, it also received seven rounds of private funding. SQ was established as the ticker symbol for the company. The name of the company Square was derived from the card readers of the company that made to be square in shape.
From 2018, Square allowed its users to buy and sell Bitcoin through its app. In April 2021, the market value of each share of Square was traded at $265. In October 2020, the digital payment company started investing in bitcoins. It purchased 4,709 bitcoins at an aggregate price of $50 million. From 2018, Square allowed its users to buy and sell Bitcoin through its app. Another purchase was made in the year 2021 of $170 million in Bitcoin. This increased the value of the companies crypto holding to amount to $500 million.
The company wants to make technologies to reach everyone. To ensure this, it has created an easy-to-use payment solution; its host of options includes a cash app (a peer-to-peer) payment solution: mobile application, and Square Point-of-Sale.
Square’s vision is to rope in people and help them shape their future.
Square Mission Statement
The Square mission statement says that “We believe that every individual must have an equal chance to build themselves in the economic world. We believe that the economy of any country and the world grows collectively when every citizen has access to the economic world. Therefore, we aim to make commerce easy for everyone”. As per Jack Dorsey, the CEO of Square, “The aim of the company is the empowerment of small businesses.”
The company wants to provide simple and affordable solutions that can help businesses sell more without any barriers. If people are left behind because they do not understand the technology or cannot afford to put things at stake. However, Square wants to help and develop tools and devices that will give more power to people and increase their opportunities to thrive in the economic world. They want to develop tools that bridge the gap between ideas and their employees to benefit the business. Because it helps the world become more honest when everything is fair and also Square.
Square has a clear mission that is to make the world economy fairer for every business commodity. It also believes in giving them equal opportunity to grow and earn a better livelihood for themselves. The Square mission statement clearly states that the company wishes to demolish the gap between ideas and technology. This will help in bringing the two worlds together so that economies could grow collectively.
Makes business easier
Square wants to make the businesses processes easier for the customer as well as the retailer. It aims at developing the best devices such as square readers, card readers, and smart sale point screens.
Innovative processes
With the help of its devices, Square wants to bring about an innovative change in the business environment. The innovative the devices, the lesser the gap between business ideas and their implementation. This brought a drastic increase in the transaction processes, as well as made it easier.
Futuristic approach
Square wants to establish a strong presence, and one of the initiatives it has taken is investing in Bitcoin. Square has invested $170 million in Bitcoin. Intending to increase digital payment, Square also wants to diversify into cryptocurrencies; in 2018, it enabled Bitcoin purchase and sale via the Square app.
Square Vision
According to the Square’s vision statement, the company wants to allow everyone to shape the future of their business, as they want. The vision statement says, “We are here to assist businesses of all scales and sizes. We will help them to start, function, and then grow towards a better future in economies. And we do it because we believe that the growth of one business is the growth of every other business.”
Growth of business community
Square believes that the growth of one business community will directly affect the growth of another. It wants to enhance the demand and supply processes, where demand is always high. This will help the business grow economically, and in turn, add to the country’s economy. It believes that the economy is a chain, where one loose piece will break the chain and crash the economy. Therefore, it aims at creating a chain that is strong, innovative, and ever-growing.
Square believes that the growth of one business community will directly affect the growth of another. It wants to enhance the demand and supply processes, where demand is always high. This will help the business grow economically, and in turn, add to the country’s economy. It believes that the economy is a chain, where one loose piece will break the chain and crash the economy. Therefore, it aims at creating a chain that is strong, innovative, and ever-growing.
Use of technology to help businesses
The vision of Square is to helps every business be it small or big. They will be with the business from the start and help them move towards better financial stability. This is all with the help of innovative and modern technologies integrated with business processes.
The Square core values
Square core values are more inclined towards helping every business as well as their customers. Square mission and vision are to help businesses enhance sales by making shopping simple and easy for every individual. It is the core value of Square that makes it the most trusted payment solution provider, and it also underpins the structure of its service. Let us see some of them in brief.
Gender Culture and Equality
The company values passion and motivation towards building a better business platform. And it values skills and knowledge. Therefore, there is no place for gender inequality in the company. A skilled and knowledgeable employee will be preferred, whatever the gender of the employee. Currently, it employs more female employees than males. It was ranked 3rd in Cultural Score for businesses in San Francisco, California.
Everyone Grows together
Square mission and vision are inclined to assist every business organization to register more sales. The scale and business reach do not matter; they are ready to help build their economy and move towards financial growth. More values: Employees opine that Square Inc believes in diversity, inclusion, innovation, shareholder value and employee and customer happiness. It also believes in giving back to the community.
Conclusion
Square is a payment service company that wants to make business transactions easy and technologically advanced. The mission and vision of Square emphasize the collective growth of every business organization. They make transactions easy and understandable for everyone. So that technology never becomes a barrier, but a ladder to the better economic growth of the business and the entire community.
