American billionaire Jack Dorsey’s fintech company Square Inc has announced the launch of its own bank for small business owners. Named Square Banking, this new venture of the Twitter CEO aims to help small business owners manage their cash flow needs better and more effectively.
Square Banking has three core products – Square Savings account, Square Checking account, and Square Loans. While the first two are new deposit accounts, the third one is a lending service tool that will give sellers increased access to credit through proactive loan offers.
