Square adds new features for Canadian sellers

According to foreign media reports, the US payment platform Square recently announced that it has added two new features for Canadian sellers using Square cards. It will allow sellers to withdraw funds from product sales for free and instantly without having to wait until the next business day. In addition, for businesses with external bank accounts, Square will link their debit cards to Square accounts to provide real-time fund transfers.

Riechers, head of commercial banking products at Square, said the pandemic has forced many Canadian merchants to switch to online sales, and supply chain congestion has caused sellers to order inventory in advance, which requires a lot of money. The two new features launched by Square can help sellers speed up ordering and solve supply chain problems, thereby promoting the smooth operation of sellers' e-commerce business.

It is learned that cash flow management is currently a primary problem faced by sellers in establishing e-commerce businesses. Square said that this is mainly because companies do not have sufficient circulating funds. In the future, it will propose more effective solutions to help sellers solve this problem.

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