Square on Tuesday announced the launch of a new standalone mobile app for Square Invoices that lets sellers send, manage, and receive invoices from a smartphone or tablet.
In its original Square Register version, Invoices lets merchants send invoices directly to a customer's email with a direct payment link. The new invoices app functions much in the same way as the desktop version, with the exception of a new feature that's been added that lets users send estimates and confirmation details for future jobs. Both the app and desktop version support this new feature.
First launched in 2014, Square said Invoices has a grown into a significant revenue driver within its services ecosystem. Its latest numbers show that more than $13 billion has been processed globally through Square Invoices over the last five years. Square doesn't charge a monthly fee for Invoices and instead makes a profit by charging sellers a 2.75 percent transaction fee that is in place throughout the Square platform.
San Francisco-based Square, headed up by Twitter CEO Jack Dorsey, has greatly diversified its portfolio over the years, expanding into corporate catering and lending, and building tools for email marketing, payroll, and customer management.
Most recently, Square launched a free debit Mastercard for its sellers that draws money from the merchant's Square balance. Square said the debit card gives small businesses immediate access to funds from the payments they accept and that it's also meant to help them with money management by preventing the commingling of personal and business funds.
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