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Square, a subsidiary of Block Inc., began testing a credit card product aimed at its merchant sellers, expanding its embedded finance offering beyond payments into lending. The product is developed in...

Square, part of Block, began searching for a replacement banking partner after Wells Fargo exited a key market relationship. The departure created operational gaps for Square's financial services. Thi...

The FDIC approved Industrial Loan Company (ILC) charters for Square Financial Services (Square Bank) and Nelnet Bank, ending a years-long moratorium on new ILC charters. This landmark decision opens t...

Block Inc. (Square's parent company) completed its $29 billion acquisition of Afterpay on January 31, 2022, and began rolling out BNPL integration to Square Online sellers in the U.S. and Australia on...

Brex expanded its instant payouts service to merchants using PayPal, Square, and Stripe, enabling immediate access to earnings for a fee. Previously the feature was limited to Amazon and Shopify users...

PayPal, Square, and Intuit were approved by the SBA as direct lenders under the Paycheck Protection Program (PPP) for coronavirus relief. This marked a significant moment in fintech-bank convergence, ...

Square Financial Services officially launched as an FDIC-insured industrial loan company (ILC) bank in Utah in March 2021. The launch followed years of regulatory review and made Square one of the few...

Square announced the acquisition of Australian BNPL provider Afterpay for approximately $29 billion in an all-stock deal. The acquisition aimed to integrate Afterpay's buy-now-pay-later capabilities i...

Square received approval for an industrial banking charter, enabling the fintech to operate banking services more independently. This approval allows Square to expand its product offerings and reduce ...