Square partners with community banks to improve payment solutions for SMBs

Payment platform provider Square has announced it is adding a string of regional partners to its stable in order to give small businesses outside the city centres greater access to payment technology.

Square has partnered with Unity Bank, Southern Cross Credit Union and WAWA Credit Union to provide access to Square’s card reader and contactless chip. Customers will also receive fee-free card processing for their first $1,000 worth of sales to help them get started.  

Square’s Country Manager for Australia and Head of APAC Ben Pfisterer welcomed the partnership news, which further extends Square’s reach in regional Australia.

“Square is excited to partner with these community-focussed organisations, like Unity Bank, that provide integral financial services to small businesses across regional Australia,” he said. “It’s a big win for small business owners in regional areas when their local banking partners are willing to collaborate on a global scale to give them greater access to some of the world’s best technology solutions.”

Unity Bank CEO Mark Genovese highlighted that offering Square’s services to their small business customers reaffirmed the bank’s commitment to continually drive value.

“Working with Square allows us to offer a simple and affordable solution for digital and card payments, which can help our small business customers get their businesses up and running faster,” he said. “Small businesses are the backbone of our community and we will continue to look at ways to support this important sector to ensure they can digitise and thrive.”

The partnership news also coincides with Square’s third anniversary since launching in Australia, with the company revealing they continue to see strong growth in the number of businesses signing up to their platform, particularly across regional Australia.

“We have been humbled by the number of Australian businesses that are trusting us to help them start, run and grow,” said Pfisterer. “While we have maintained a strong presence in metro areas, we’re actually seeing the fastest growth across regional communities, particularly in Western Australia and South Australia, which dispels the myth that entrepreneurialism and business growth is confined to big cities.”

Square devices will be available at the following Unity Bank-affiliated branches across New South Wales from today: Kandos, Lithgow, Mudgee, Oberon, Eugowra, Gulargambone, Trundle, Bankstown, Budgewoi and Gosford.