Jack Dorsey, co-founder of Twitter, open your own online shop for racing you to Amazon
Jack Dorsey , Twitter co-founder and creator of Square, the electronic payment system, announced the launch of its own online store, which will compete directly with giants like Amazon, eBay and Etsy supported by the community of users who already use the service online payment.
Square One can say that the market opened new electronic payment systems, which is why this new release will have a noticeable difference compared to its main competitors.
What is the strategy for getting into such a competitive market? According to Ajit Varma, director of Square, look closer to small businesses of all U.S. cities as possible using the service Square. The methodology of this shop will be similar to that of its competitors, a user can create a free account and offer their products or create a profile of your company.
The transaction fee is 2.75% of sales for each user, unlike other stores that charge flat fees differentiated by product type. Such is the case of Amazon, which charges $ 0.99 per item sold or U.S. $ 39.99 per month to mass marketers or eBay, depending on the product get $ 0.30 per sale.
Link: Square to challenge Etsy, Amazon, eBay with “Market Square” (The Verge)