Active Sellers Analysis: Market Penetration, GPV & YoY Growth

Analysis of sellers with payment activity in the last 90 days (with YoY comparison)
📊 Updated with YoY Growth: Now includes year-over-year growth for both merchant count and GPV, comparing last 90 days vs same period previous year.
Australia
255,012 active sellers (90d) • $1.3B/month GPV
17.4% 26.4% 56.2%
Food & Drink: 17.4%
Retail: 26.4%
Services: 56.2%
YoY Merchants
YoY GPV
GPV Share
Food & Drink +11.3% (+4,511)
Retail -0.5% (-333)
Services +5.3% (+7,233)
Food & Drink +30.6% ($472M)
Retail +12.7% ($63M)
Services +12.3% ($130M)
Food & Drink 53.5% ($671M)
Retail 14.8% ($185M)
Services 31.7% ($397M)
🎯 Sub-MCC Insights
🍔 QSR Opportunity
Strong F&D growth (+30.6% GPV) with high transaction values. Mature market ready for complex QSR solutions.
💆 Health & Beauty Focus
Services dominate (56.2%) with steady growth. Strong appointment-based business potential in wellness sector.
🏦 Banking Products
Square Loans available since 2021. Mature market for cash flow products and business lending.
Canada
277,510 active sellers (90d) • $1.2B/month GPV
13.2% 30.0% 56.8%
Food & Drink: 13.2%
Retail: 30.0%
Services: 56.8%
YoY Merchants
YoY GPV
GPV Share
Food & Drink +13.4% (+4,335)
Retail +5.9% (+4,615)
Services +7.8% (+11,371)
Food & Drink +20.9% ($216M)
Retail +14.7% ($80M)
Services +13.9% ($219M)
Food & Drink 34.0% ($416M)
Retail 17.1% ($209M)
Services 49.0% ($600M)
🎯 Sub-MCC Insights
🍔 QSR Growth Potential
Strong F&D growth (+20.9% GPV) with solid transaction values. Opportunity for complex QSR expansion in growing market.
💆 Health & Beauty Strong
Services lead (56.8%) with strong wellness and beauty sector presence.
🏦 Banking Products
Square Funding (MCAs) GA in Quebec. Debit cards and team spend management tools available.
Japan
122,754 active sellers (90d) • $458M/month GPV
28.4% 69.3%
Food & Drink: 2.4%
Retail: 28.4%
Services: 69.3%
YoY Merchants
YoY GPV
GPV Share
Food & Drink +24.3% (+572)
Retail +16.1% (+4,832)
Services +17.0% (+12,350)
Food & Drink +57.6% ($13M)
Retail +45.3% ($128M)
Services +42.5% ($277M)
Food & Drink 2.5% ($11M)
Retail 29.9% ($137M)
Services 67.7% ($310M)
🎯 Sub-MCC Insights
💆 Health & Beauty Goldmine
Services dominate (69.3%) with explosive growth (+42.5% GPV). Huge wellness and beauty market opportunity.
🍔 QSR Untapped Potential
Small F&D share (2.4%) but massive growth (+57.6% GPV). Early-stage QSR expansion opportunity.
🏦 Banking Products
Limited banking products available. Focus on core payment processing and cash flow solutions.
United Kingdom
148,729 active sellers (90d) • $965M/month GPV
19.0% 24.9% 56.1%
Food & Drink: 19.0%
Retail: 24.9%
Services: 56.1%
YoY Merchants
YoY GPV
GPV Share
Food & Drink +15.0% (+3,687)
Retail +5.1% (+1,786)
Services +11.5% (+8,638)
Food & Drink +42.6% ($455M)
Retail +24.2% ($89M)
Services +26.9% ($195M)
Food & Drink 52.6% ($508M)
Retail 15.7% ($152M)
Services 31.7% ($306M)
🎯 Sub-MCC Insights
🍔 QSR Market Leader
Exceptional F&D growth (+42.6% GPV) with premium transaction values. Mature QSR market with strong delivery ecosystem.
💆 Health & Beauty Hub
Services segment (56.1%) with solid growth (+26.9% GPV). Strong wellness and beauty sector with appointment-based revenue.
🍽️ FSR Opportunity
Traditional dining culture with high transaction values. Strong potential for table service restaurant solutions and complex operations.
🏦 Banking Products
Square Loans Phase 1 live, expanding to Phase 2. Strong market for business lending and cash flow management solutions.

Key Insights: YoY Growth Analysis (90-Day Comparison)

🚀 Merchant Growth Leaders
Japan dominates growth:
• Food & Drink: +24.3% merchants
• Retail: +16.1% merchants
• Services: +17.0% merchants
All segments growing!
💰 GPV Growth Champions
Explosive GPV growth:
• Japan Food & Drink: +57.6%
• Japan Retail: +45.3%
• Japan Services: +42.5%
Consistent across all segments
📊 Mixed Performance
Other markets show variation:
• UK Food & Drink: +15.0% merchants, +42.6% GPV
• Canada Food & Drink: +13.4% merchants, +20.9% GPV
• Australia mixed results by segment

🎯 Strategic YoY Growth Insights

Japan's Exceptional Performance: All segments showing strong double-digit growth in both merchants and GPV, indicating a healthy, expanding market across all business types.

Food & Drink Momentum: Strong growth across most markets, with particularly impressive GPV growth outpacing merchant growth - indicating higher transaction values per merchant.

Market Maturity Patterns: Australia shows more mixed results, suggesting market maturation, while UK and Canada show selective strength in Food & Drink segment.

GPV Outpacing Merchants: In most growing segments, GPV growth exceeds merchant growth, indicating increasing transaction values and merchant productivity.

YoY Comparison Method: Growth rates compare the last 90 days vs the same 90-day period one year ago, providing a clean seasonal comparison of merchant activity and GPV performance.