Square Spanish adds to small business services

One of the largest payment processing companies currently offers its services in Spanish.

Why is it important?Spanish is the most widely spoken language in America after English. According to census data, more than 41 million people speak at home.

Details: Square, which allows millions of small businesses to accept credit card payments, announced this week that all of its services and hardware will work in both English and Spanish in the US.

  • Businesses — Hispanic-owned and otherwise — can choose which language to use for any banking and credit services they employ through Square.
  • Customers of those businesses can choose any language or enter their contact information for a digital receipt when viewing order totals and tip options.
  • “It has millions of users,” said Square, which is part of the conglomerate that operates Cash app and “buy now, pay later” service Afterpay.

The big pictureFinancial technology companies give Latinos more ways to access money and payment transactions.

  • Banks have historically underserved Hispanic customers, charging people of color higher, for example. In the past, they forbade Latino loans from non-Hispanic whites.
  • More than 12 percent of U.S. Hispanic households say they don’t have a bank account in 2021, as many Latinos fear they don’t trust banks or don’t have enough savings to keep an account.

What are they saying?: “By offering fair and accessible financial services written in Spanish and supported by Spanish-language customer service, Square is taking a step forward in giving Latino entrepreneurs the tools they need to start, run, grow or adapt their businesses,” Cristina Richer, Square Banking’s head of product, said in a statement.

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