As a new company, Square stepped out of the traditional mold to change the way the payments industry thinks about the point of sale. Now it’s once again trying a new way of looking at the way it relates to sellers.
Announced last Friday, Square’s first brick-and-mortar store location in Manhattan is focused on its merchants, aiming to provide them with more face-to-face support and hands-on experience with Square products.
A spokesperson for Square told PaymentFacilitator.com that, while the showroom does have a section that features the company’s products, selling hardware is not its primary purpose, as it already enjoys distribution through other retail channels.
Instead, the goal is to provide a new touchpoint for interacting with sellers, the spokesperson said.
Rick Oglesby, principal of AZ Payments Group, described the decision to open a physical location as a good move, with little risk to the company if it isn’t ultimately a success.
“At the same time, if it is successful, then Square will have a unique way of showcasing its products that is truly different than anything else that other acquirers or payment facilitators are doing,” he said.
Oglesby also noted that Square’s approach to design gives it a competitive advantage, one that a visual display in a retail environment can help to highlight.
“It’s out-of-the-box thinking that helps Square stand out against its competitors, and any potential downside is pretty small,” Oglesby said.
In addition to offering support appointments, the location will serve as a base for the company’s enterprise sales team, which is based in New York, to meet with larger sellers.
It also features a section offering merchandise from rotating groups of Square’s sellers. The store will be open to the public on the weekends.