Payment processing platform Square has formed a partnership with event e-commerce platform Eventbrite, alongside a $25m investment.
Square has invested the $25m to help Eventbrite drive its payment systems, including online, mobile and in-person transactions.
San Francisco-headquartered Square is a payment processor, which helps companies not only accept card payments, but also gain access to reporting and analytics, next-day settlement and chargeback protection. The Square reader, which is pocket-sized, is made for chip & pin, mobile and contactless payment types.
Founded in 2009, the company’s Square Cash offering helps businesses and individuals to send and receive money, while its Caviar platform is a food ordering service for restaurants.
Eventbrite is a global event technology platform, which has helped process over $8bn in gross ticket sales, and powers almost three million events a year. Hundreds of thousands of events organisers use Eventbrite to boost ticket sales, as well as promoting and marketing their events.
Through the partnership Square will become Eventbrite’s payment processing partner for paid events, tickets, registrations, merchandise sales, donations, and other associated products or services. Square will also be the company’s in-person payment processor and will provide it with omni-channel reporting and management.
The total number of deals in the PayTech sector is set to decline again this year, with H1 2017 only seeing 58 deals.
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