Merchant Innovation

Square Brings SMBs Facebook Ads — And Data

Square is joining forces with Facebook to make it easier for small and mid-sized businesses that use its services to buy ads on the social network through its merchant platform.

The small business payment processor announced integration on Wednesday (March 23), which will bring ad buying capabilities for Facebook directly into its suite of Customer Engagement tools.

“Now, your Facebook Ads results and Square sales data are integrated, so you can connect your Facebook marketing budget to actual sales and understand exactly what your customers respond to,” Square said in a blog post announcing the launch of the new feature. “We will also be adding support for other social channels in the coming weeks.”

According to Square, Facebook Ad Integration will help its merchants to better target their customers, bring new customers to their business and boost sales at an affordable cost.

“There’s a lot of excitement around buying Facebook ads, but the critical missing link is: If I put down $5, how do I know if it worked?” Saumil Mehta, Square’s customer engagement lead, told The New York Times. “The ability to track and close the loop from advertisement to sale — that’s the holy grail.”

With merchants having the ability to buy and target Facebook ads directly via Square, the payment processor will receive a cut of the subscription fee.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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