French mobility and consumer electronics group Innov8 has signed a partnership with Square for the distribution of Square payment terminals in France through its Extenso distribution arm. The aim is to democratise the simple, intuitive use of these terminals, with no hidden costs or long-term contracts, for businesses, merchants and e-retailers of all sizes in France.
With more than one billion bankcard payments (a total of €15 billion) made in 2021, access to a simple and secure way to carry out banking transactions has become a major issue for millions of French merchants and businesses. The rental of payment terminals can represent a significant financial and administrative burden for SMEs, which often have difficulty finding a solution adapted to their daily use and to the volume of sales processed. All these constraints can make it difficult for customers to pay by bank card and make it difficult for them to make a purchase.
Through this partnership, French merchants and e-retailers will have direct access to Square's entire integrated ecosystem of retail solutions, including software specifically designed to manage restaurants and complex retail operations, versatile e-commerce tools that allow any merchant to easily create a website, integrated financial services and banking products, an appointment scheduling platform, and employee management and payroll solutions. Square Reader and Square Terminal products are already available online and in most Boulanger shops.
"This partnership fully reflects our commitment to democratize the distribution of connected products to as many people as possible and to develop new markets for major retailers in France. With Square's turnkey solutions, French retailers will have an additional asset to develop their commercial potential", said Stéphane Bohbot, CEO and founder of Innov8.