Square has announced its launch in the U.K., marking the fifth country where it is available, along with existing markets Australia, Canada, Japan and the U.S.

"We founded Square to empower small businesses with tools to accept all forms of payment and to make a sale anytime, anywhere," Jack Dorsey, CEO of Square, said in a statement. "We look forward to working alongside the millions of entrepreneurs and thriving small and medium-sized businesses across the U.K., especially those who do not yet take card payments."

Square arrives in the U.K. at a disadvantage as companies such as iZettle and payleven have been in that market for years. However, iZettle's co-founder welcomed Square to the U.K. market.

"We've been waiting for these guys to arrive for a while now," Jacob de Geer, co-founder at iZettle, said in a statement. "We're happy they can join us here as healthy competition always moves a market forward — we're fans of anyone who can help us level the playing field in the massive effort needed to democratize commerce for small businesses in the U.K."