Ryosuke Nomura, Executive Director of Square

We want to support the growth of small and medium-sized enterprises with a speedy payment system

Executive Director, Square　Ryosuke Nomura　(Ryosuke Nomura)

◾️Profile

At NTT Data, he was responsible for planning digital transformation strategies for the retail industry. At Apple Japan, he was responsible for user acquisition and new business development as the business general manager for Apple Pay. As a director of Square Inc., which he joined in 2022, he oversees business strategy and partnerships with payment players. He holds an MBA from Dartmouth College and a graduate of the Faculty of Law at Waseda University.

Square provides all the tools necessary for commerce, making it easy for anyone to start selling and taking payments. Ryosuke Nomura, the company's executive director, went to university to become a lawyer, but says that it was what he learned outside of school that changed his life. We spoke to Nomura about his business, starting from his student days.

◾️I want to grow my small and medium-sized business

　I had a dream of becoming a lawyer, so I went on to study at the Faculty of Law at Waseda University. However, once I enrolled, I realized that the experiences I gained outside of school were more relevant to me than those I had inside the school.

　I've always loved clothes, and I would often go shopping in Harajuku and other places, and I would sell the things I picked up along the way both domestically and internationally using online auction sites. I found that I could sometimes sell them for more than I paid for them. In this process, I learned through experience that if you can effectively capture the gap between something being hard to come by, or something that's good but unknown to the public, it can become monetary value, and by repeating this, you can grow in scale and trust, and a business is born. Also, until then I had thought that the typical career path was to go to a good university and get into a good company, but I realized that designers for popular fashion brands don't necessarily take that path, and I realized that there's actually no need to be trapped or fixated on what is generally considered good.

　This realization became a turning point in my life, and I began to strongly desire to do something interesting in the world rather than aiming to become a lawyer. I tried my hand at job hunting in a variety of industries, and ultimately joined a company called NTT Data. The reason I joined was because I felt it would be more interesting to work for a company that had yet to grow, rather than one that had already grown. Another reason was that I thought this company would allow me to make use of my English skills.

　After joining the company and working in sales proposing business services, I realized that it was more interesting to fight for myself and gain market share than just completing the tasks I was given. I wanted to broaden the scope of my challenges rather than just stay with one company, so after working at Apple, I joined Square in the fall of 2022.

　There are several reasons why I chose Square, but the biggest one was my desire to help small and medium-sized businesses grow. While at Apple, I was in charge of payment services such as Apple Pay. However, I felt that these systems lacked innovation for businesses. Also, compared to large corporations, introducing payment services involves significant cost concerns and risks for small and medium-sized businesses and those starting a new business, making many companies hesitant to adopt them. However, if small and medium-sized businesses could implement payment services more efficiently and cheaply, their chances of growth would be greater. I wanted to help them achieve this, so I chose Square, which provides the tools necessary for various commercial transactions with a focus on payment services.

　The appeal of Square's business is that it offers a cashless payment service with no hidden costs, with only the payment processing fee required.RegistrationEverything is done online, and payments can be made as soon as the day of application. Sales proceeds are deposited as soon as the next business day. The faster the speed, the faster the business can operate, so I think this is a major advantage for small and medium-sized businesses expanding their businesses. For example, when small and medium-sized businesses open pop-up stores, they tend to be so busy just setting up the facility that they put off preparing for payments. I think Square's strength lies in its speed, which allows it to be used as a payment method that can be used immediately at such final stages.

◾️For Square to continue growing

　Square wants to be a service that is always from the perspective of business owners. Our company focuses on small and medium-sized businesses, not large corporations, so they have different needs than large companies. We are always thinking about how much we can help them and how we can provide added value beyond the price of the product. What we most hope for is for our company's presence to contribute to the overall atmosphere of the store. Ideally, we would like people to say, "It looks really cool to have Square in your store."

　Furthermore, what Square is looking for are people who have their own ideas and are willing to take on the challenge of putting them into practice. Our company has a flat environment where people of all ages can speak up and have their opinions heard. If what they say is solid, their voice will be heard and become a major trend throughout the company. I believe that increasing the number of people like this is an essential element for a stronger company.

◾️Message

　Even if you have a desire to become rich, don't rush into it, and first of all, I want you to put your heart and soul into something you love. It can be a part-time job, a pastime, a hobby, or anything else, but I think it's important to do it seriously if you're going to do it. Also, always thinking about why you're devoting yourself to it, what you love, and what you want to achieve by doing it will lead to great learning.

　And by all means, keep studying. But when I say studying, don't just think of it as classroom learning. When I was a student, I had an experience that led me to discover my own definition of business while searching for clothes. Finally, don't be trapped by concepts that are generally considered good. In the future, there will surely be many different ways of making money and lifestyles. Because we live in a diverse society, I hope you will stick to what you believe in, rather than just doing what others tell you to do.

Interview with Student Newspaper Online on January 26, 2024, by Nihon University sophomore Mitsuri Yonemitsu

Keio University 4th year student Miyu Ito / Kokugakuin University 1st year student Shion Teranishi / Sophia University 2nd year student Himari Shirasaka / Nihon University 2nd year student Mitsuri Yonemitsu / Musashino University 4th year student Ryusei Nishiyama