joshua0111
2021-09-29
Nice
Square Partners with TikTok to Tap into New Market
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We’re looking forward to helping our sellers tap into a valuable, rapidly expanding new customer base on TikTok.”</p>\n<p>With nearly 50% of TikTok’s one billion active users saying they have purchased something after seeing it advertised on the app, the partnership presents a significant growth opportunity for Square’s (SQ) online store division. A standard Square Online store account charges sellers a 2.9% processing rate, plus 30 cents, per transaction.</p>\n<p>The announcement coincides with TikTok’s unveiling of an expansive digital marketing initiative called TikTok World that seeks to serve as a one-stop-shop for digital marketing solutions on the platform.</p>\n<p>Sellers can apply for the beta version of Square x TikTok, which will be rolled out en masse shortly.</p>\n<p>The announcement was overshadowed on a day that saw Square stock fall 5.8% Tuesday after MasterCard announced it was rolling out “buy now, pay later” services. 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