SAN FRANCISCO—The payments fintech Square has now launched a streetwear collection based on its Cash App brand.
“No, this financial services and digital payments company isn’t suddenly pivoting into the apparel business. Instead, the Cash by Cash App store served as a demonstration of a much bigger opportunity for Square,” The Motley Fool reported.
The online store features a big button at checkout encouraging shoppers to check out with Cash App. And Square has plans to expand that checkout button to more online merchants, taking on PayPal’s core business, The Motley Fool stated.
A couple of job listings for Square indicate it wants to expand the checkout feature in some form, The Motley Fool noted.
"The Commerce team is building new retail payment experiences on Cash App that leverage our vast omnichannel Seller ecosystem at Square," Square job listings for a software engineer and engineering manager explain, The Motley Fool reported.
Revamped Store
“Square revamped its online store product a couple of years ago following the acquisition of Weebly, and it's seen strong growth since. Management said online channel gross payment volume, or GPV, has grown greater than 50% in each of the past two years,” Motely Fool reported. “Additionally, omnichannel merchants—a category that combines online and in-store sales—now account for the majority of Square's GPV, following the shift in consumer behavior during the pandemic.”
The fashion collection and what’s available for sale can be found here.