Global financial technology leader, Square, opened its Melbourne-based Australian headquarters in 2016 and is now increasing its presence here with a new development capability.

The engineering hub will be at the forefront of the development of new payment technologies and Square’s first outside North America.

This major investment by the high-profile tech leader, headed by Twitter co-founder Jack Dorsey, is a significant vote of confidence in Victoria’s fintech sector, its highly skilled workforce and its culture of innovation.

Most of the jobs created by this investment will be in engineering, helping Victoria retain talented local development engineers. More than 60 new roles will be created taking the total headcount for Square beyond 100 employees.

Square’s Australia Country Manager, Ben Pfisterer says ‘We’re investing in our workforce here in Melbourne, and adding new engineering capabilities so that we can introduce more of the products and services that will help Australian businesses grow’.

Australia has one of the most advanced payment markets in the world which, coupled with its thriving small business community, makes it the perfect place to introduce new payment technologies.

Victoria has attracted many large US-based tech companies including Apple, Slack, CyberInc and 99designs, which returned their headquarters to Melbourne earlier this year after a stint in San Francisco.