Thursday 22 February 2018

Payments firm Square looks to Dublin to kick off move into Europe

Jack Dorsey, head of mobile payments company Square
Jack Dorsey, head of mobile payments company Square
Michael Cogley

Michael Cogley

US mobile payments company Square has posted three new job openings in Europe, one of which is based in Dublin.

Square, which is owned by Twitter founder Jack Dorsey, is looking to expand into Europe with its eyes set on the British market first.

However, with the Dublin posting it appears Mr Dorsey is looking beyond the UK when it comes to the European market.

The company is hiring a technical customer support representative and posted the opening on recruitment website Indeed on Thursday.

The posting said the full-time role is based in Dublin but did not give any further insight as to the location. Dorsey's Twitter's European headquarters is based on Pearse Street in Dublin and may house the new Square employee.

The wording of the advertisement may hint to further additions in Ireland.

The company said it looking for someone who is reliable and resourceful and who can scale team processes.

"The ideal candidate is a determined advocate for our customers, a creative problem-solver, and a collaborative team member who is adept at dealing with fast-changing environments. This person is energised by working with people, while still being a strong independent worker," the advertisement reads.

Another two roles have been advertised for Britain. Square is looking for a compliance analyst and communications manager to work in London.

Square offers a number of services including invoice software, loans, and point-of-sale registers.

The company operates in the fintech field and has generated a lot of hype, not least due to its tech giant founder Mr Dorsey.

A spokesperson for Square did not respond to comment to the Irish Independent about the Dublin role.

Square began beta testing of its payments system in London in June to prepare for an initial launch in Britain, Reuters reported last month. The company incorporated a business called Squareup Europe Ltd in Britain, where its payments processing technology is already being used by merchants.

"We do view it as a very interesting market," chief executive Jack Dorsey said on a recent call with investors when asked about the UK.

Previously, Square's payments service had only been available in the United States, Canada, Japan and Australia.

Square will compete with established European players such as Sweden's iZettle and SumUp in London.

Competitor Apple Pay was launched in the UK last year and has partnerships with banks across Europe. Google's Android Pay is also in the UK.

The company this month reported a 41.5pc jump in revenue and 42pc growth in payments processed on its system for the second quarter. However, it is still unprofitable with a loss of more than $27m for the three-month period.

A Square spokeswoman declined to comment to Reuters on the job postings.

The company floated on the New York Stock Exchange last year. On its first day of trading shares in the company closed up 45pc on its $9 share price.

The San Francisco firm is valued at over $4bn currently, meaning Mr Dorsey is in the unique position of heading up two multi-billion dollar companies.

However, despite the high valuation the company's shares were rocked by 15pc in May after the company announced a larger than expected loss.

(Additional reporting by Reuters)

Irish Independent

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