NEW YORK (TheStreet) –– Fighting to remain relevant in the mobile payments world, Square is expanding its reach to not just the small business clientele that have been its bread and butter, but larger brands, including Uniqlo, Burberry and Lululemon (LULU) .
San Francisco-based Square, led by CEO Jack Dorsey, has increasingly looked to larger, multi-national corporations to boost its presence in the mobile payments field, one that is increasingly getting more attention due to initiatives like Apple's (AAPL) Apple Pay, Google (GOOGL) Wallet and PayPal, which is slated to be spun off from eBay (EBAY) later this year. The company recently signed a deal with Japanese retailer Uniqlo to bring its Square Stand to approximately 15 stores on the West Coast, as well as three major stores in Uniqlo's home country.
Many have assumed that the introduction of Apple Pay, Apple's mobile payments solution that has already gathered more than 1 million credit cards according to Apple CEO Tim Cook, would hurt Square's business. CEO Dorsey was quick to take to Twitter (TWTR) , a company he co-founded, to squash that idea, noting the company's sellers would be able to take Apple Pay.
Our millions of sellers will be able to accept any form of payment that comes across the counter, including Apple Pay!— Jack (@jack) September 9, 2014
Other brands such as Burberry and Lululemon are using Square to help them attract customers in different ways than just having them in traditional stores. Earlier in October, Burberry set up a pop-up shop in the Time Warner Center in New York using Square to swipe customer's credit cards, as opposed to the traditional point-of-sale (POS) systems used by merchants.