Shares of Square (NYSE: SQ) rose on Wednesday after the financial services company announced a slate of new banking products. Square Banking's initial products will consist of Square Checking, Square Savings, and a rebranding of the company's Square Capital business financing operations, which will now be known as Square Loans. Square wants to make life easier for its merchant customers. Read More...
Motley Fool
Why Square Stock Shot 5.5% Higher Today
Ever-ambitious financial services company Square (NYSE: SQ) was a stock market champ on Tuesday, with its shares closing almost 6% higher on the fulfillment of one of its big aims: The company now offers banking services. This pair joins an existing one, Square Loans; no prizes for guessing what this service features. “By offering essential banking tools that work seamlessly with Square’s ecosystem of solutions like payments and Square Payroll, sellers now have a single home for their entire business, gaining a unified view of their payments, account balances, expenditures, and financing options,” the company wrote in an email trumpeting its new role as a traditional bank.
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