Square Invoices ties directly to the Square account of a business. Sellers can send unlimited invoices to suppliers without a monthly fee. But, like the register service, Square will levy a 2.75% transaction fee on all transactions.
The company hopes that invoicing through its system will reduce taking payments over the phone and make keeping track of invoices easier for small businesses because it’s tied to the same system used to collect sales.
This continues Square’s path towards becoming a one-stop shop for businesses. It recently introduced inventory tracking with support for Stitch Labs inventory system, Square Capital, a small business financing system, and an update to the Square Dashboard.
The company began as a simple payment solution for anyone willing to purchase the Square Reader hardware. The reader allowed established businesses and individuals to accept credit and debit payments with a low transaction fee.