Square deal - firm hires expert in global trade
Demetrios Marantis is helping the business navigate the complex maze of regulations covering financial services as it expands in Canada and Japan, and looks for opportunities beyond.
Part of that task appears to be underscoring Square's contributions to San Francisco, particularly as antitechie tensions reach a fever pitch.
The ostentatious displays of wealth, skyrocketing rents and gentrification accompanying the industry's boom have left a bad taste in the mouths of many residents.
Last month's initial public offering of Twitter - which, like Square, was co-founded by Jack Dorsey - sparked a protest in front of the company's Market Street headquarters designed to highlight the affordability crisis in the city.
Square, which itself could go public as early as next year, according to a recent Wall Street Journal report, no doubt hopes to avoid a similar scene at its new offices a block away.
Marantis says the company has taken note of the brewing backlash and wants to emphasize its commitment to San Francisco and the Mid-Market neighborhood.
Square, which provides credit card readers for mobile devices along with other digital payment tools, has facilitated $1 billion in transactions in San Francisco to date, the company revealed to The Chronicle.
[...] I'm very proud to have the opportunity to host the supervisors and other government representatives in our new space to show our commitment to this part of San Francisco - and to tell the story we can tell about how much Square has facilitated commerce in San Francisco.
[...] many small businesses before the advent of Square were unable to accept credit card payments because of the complexities associated with different fees charged by different cards, and the complexity of pricing and hidden fees.
[...] the fact they're now able to accept credit cards means they're able to accept more transactions, means they're able to grow their businesses faster, means they're able to hire more people.