United Parcel Service Inc. announced Thursday a partnership with Square Inc. through which UPS's shipping solutions will be integrated into Square's platform for sellers, enabling them to use these services for order fulfillment. "Recall that Square's online store services (launched in early 2019 and mirrors the business model used by Shopify) helps power online businesses for small merchants with tools such as website building and design, payments, etc," Keefe, Bruyette & Woods analyst Steven Kwok wrote in a note to clients. "This integration with UPS adds another functionality and could enhance Square's positioning to better compete with peers such as Shopify that potentially have more advanced offerings including front and back end software and related tools that allow [small- and medium-sized businesses] to set up online storefronts and sell their products through multiple channels." He wrote that while his analysis of the two offerings suggests that Square's is more competitive on monthly fees, "it is unclear how the two may compare on the level of service and support included in each plan." Square's stock is off 1.7% in Thursday trading, while UPS shares are down 4.8% after the company posted disappointing revenue numbers for its latest quarter. Read More...
United Parcel Service Inc. announced Thursday a partnership with Square Inc. through which UPS’s shipping solutions will be integrated into Square’s platform for sellers, enabling them to use these services for order fulfillment. “Recall that Square’s online store services (launched in early 2019 and mirrors the business model used by Shopify) helps power online businesses for small merchants with tools such as website building and design, payments, etc,” Keefe, Bruyette & Woods analyst Steven Kwok wrote in a note to clients. “This integration with UPS adds another functionality and could enhance Square’s positioning to better compete with peers such as Shopify that potentially have more advanced offerings including front and back end software and related tools that allow [small- and medium-sized businesses] to set up online storefronts and sell their products through multiple channels.” He wrote that while his analysis of the two offerings suggests that Square’s is more competitive on monthly fees, “it is unclear how the two may compare on the level of service and support included in each plan.” Square’s stock is off 1.7% in Thursday trading, while UPS shares are down 4.8% after the company posted disappointing revenue numbers for its latest quarter.
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