The statistic highlights Square’s Average Take Rate from Q1 FY 2016 to the latest quarter.
Square Inc. (NYSE: SQ) is a merchant service aggregator by creating technology capable of aggregating mobile payments and merchant services into a single, easy-to-use service and is based in San Francisco. Square, Inc. is launched by Jim McKelvey and Jack Dorsey in 2009. Around 30 million businesses use this technology to facilitate tracking sales and managing credit card payments. The company’s Square Cash App began allowing merchants to use bitcoin in the technology back in 2017. The company has been traded as a public company on the New York Stock Exchange (NYSE) since November 2015 as a symbol of SQ.
Take rates for digital payment services providers like Square Inc., which is a slight percentage of each transaction for facilitating the movement of funds between the buyer and the seller.
The year 2016
Over the quarters, the average take rate dropped from 3.30% to 2.94%, which shows a consistent fall. In Q1, the rate was 3.30%, but in the subsequent quarter, it slightly decreased to 3.19%. A subtle change of 0.33%, Q3 witnessed another drop to 2.99%. It was continuing the streak of fall to 2.94% till the end of the quarter.
The year 2017
The year reported the constant take rates across the quarters with some minor fluctuations. In Q1, the average take rate slightly increased to 2.96%, grew by 0.67%, as to attract new customers and facilitate more transactions. In the second quarter, the take rate again dropped to 2.94%. and Q3, the decrease in the take rate tolled to 2.93% and remain constant until the end of the year.
The year 2018
The whole year reported a constant figure in the take rates. In Q1, the average take was 2.93%, which is the same from the last two quarters. Following the streak, the second quarter reported the same take rate of 2.93%. In the third quarter also, the take rate decreased to 2.92%, a slight drop after the constant rates in the past few quarters. The year ended with an average rate of 2.92%.
The year 2019
Following the same stream of fluctuations as last year, in the year 2019, the take rates were quite constant. In Q1, the average take rate was constant to 2.91%. Again, the take rate decreased to 2.90%. Till the third quarter, subtle nuances marked the average take rate to 2.89%, overall yearly drop by 1.02%.
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