Square launches small business banking


FILE PHOTO An advertisement for the Square Inc payment processor is seen outside a vendors site along the High Line in New York March 9 2016. REUTERSShannon Stapleton

FILE PHOTO: An advertisement for the Square Inc payment processor is seen outside a vendors site along the High Line in New York March 9, 2016. REUTERS/Shannon Stapleton

(Reuters) - Square Inc, the company led by Twitter Inc CEO Jack Dorsey, is launching banking services for small businesses, as it continues to grow beyond payments processing.

Square Banking will offer small businesses savings and checking accounts, as well as its existing lending offering which has been renamed Square Loans, the San Francisco-based company said on Tuesday.

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