SQ: adds payroll superpower to merchants

Yesterday SQ rolled out a payroll app:


Square stock extends gains after company rolls out new payroll app; ADP, Paychex stocks fall

Square Inc. SQ, -1.11% rolled out a new, dedicated payroll app on Tuesday, which will allow employers to approve time cards and pay employees. Over the past few quarters, merchant services such as payroll have helped contribute to the company’s strong growth. Square has been successful in convincing merchants to pay for additional services beyond payment processing, including instant access to funds and invoicing. The new app puts the payroll service in a dedicated place…