Ajit Varma

Square introduced an online marketplace on Wednesday, which lets merchants open up virtual stores for free to list goods and services. The move marks Square's first venture into e-commerce and may help establish the startup as useful for businesses looking to both process payments and attract new customers. "Creating an online marketplace is our next step in making commerce easy for everyone," said Ajit Varma, Square's director of discovery, in a statement. "Square Market makes local businesses accessible to customers down the block and across the country."