Amid its IPO plans, Square has also made headlines for its pivot towards enterprise- and B2B-focused services that won’t necessarily face the consumer the same way its white square devices do. As part of that changing focus, Square has introduced payroll services to some of the businesses it already works with.
For the first time, the company is now expanding that payroll service outside of the state of California.
Reports by VentureBeat on Thursday (Nov. 12) said Square is introducing Square Payroll to business customers in Texas, one of the company’s largest markets. According to reports, nearly half of Texas’ private workforce worked for a small business as of 2011, and that could spell big bucks for a SME-focused accounting tool like Square.
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Square Payroll lets businesses sign up for $20 and onboard their employees for $5 each a month. The platform is ideal for hourly employees and can support customization in terms of employee leave, vacation and other compensation issues.
The service is only a few months old, having first made its debut over the summer. While it integrates into the back-end operations of existing small business users of Square, the company said non-users of its card reader can take advantage of Square Payroll, too.
Part of the company’s efforts to provide businesses with tools other than a mobile POS terminal has been Square Payroll, a payroll service for businesses. Square Capital is another product that the company offers, which is a small business financing product.
Earlier this year, the company also unveiled instant deposits and disputed purchase protection for its corporate customers — a move analysts said signals Square’s acknowledgement of unsuccessful efforts, like Square Wallet, in the B2C market.
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