Spain’s retail and ecommerce market also makes it an attractive destination for Square to capitalise on high consumer spending: Retail sales in Spain are expected to increase 10.2% YoY this year, hitting USD 345 billion, according to ‘emarketer.com’.
Square emphasised global expansion in its Q2 shareholder letter, pointing out that its international markets achieved strong seller gross payments volume, which amounted to USD 42.8 billion in the period. In April 2021, the company ran an early access pilot in Ireland before a full rollout in May.
Square also moved further into Canada with the launch of its instant transfers service, and it brought Square Loans to Australia in Q2.
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