Block's business-focused payments arm, Square, told CNBC it has rolled out it's Square Card product in Britain.
The firm will come up against local banking giants like Lloyds and NatWest, as well as fintech players including Pleo, Payhawk and Spendesk. Currently available in the U.S. and Canada, Square Card is a free business spending card that reduces the time between merchants making a sale and having funds available to spend. It competes with offerings from the likes ofSamina Hussain-Letch, executive director of Square U.K., said the launch of the firm's corporate card product in the U.K. would give merchants speedier access to funds and help them more easily manage their daily expenses.
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