Chances are you use a Square product regularly, whether it is paying for your cup of coffee, craft beer, haircut, or use one in your own business. This financial technology company has grown rapidly along with mobile device sales over the last eight years and the stock (NYSE: SQ) is up 180% in just the last 12 months. We have enjoyed 56% of this gain here and with strong expecations and new products hitting the market, we can only expect more growth ahead.
The first Square Point-of-Sale device, and it’s largest to date, has two displays one for the seller and one for the customer. Square CFO Sarah Friar notes that Square Register is it’s the priciest POS device thus far, but customers are loving the display and it’s attracting larger retailers.
Square For Restaurants
Square has indeed came a long way from it’s single product beginning in 2010 with Square Reader, which accepted credit card payments by connecting to a mobile device’s 3.5 mm audio jack. Another new product from Square this year is taking on the restaurant Point-of -Sale competition in a fierce way. Beyond payments, to inventory, menus, table map, and full on marketing, Square Restaurant is a complete out of the box solution.
Setting up the system is a very ‘user-friendly process’ says Square CEO Jack Dorsey, and says that 60% of new Square for Restaurants customers are able to easily set up their own system. “That includes their table map, all the menus, basically all the operations that they need to focus on to run the restaurant … the ability for a restaurant to take that on and self-onboard and do all their menus, do all their table layouts with our software is pretty awesome because it creates efficiencies.”
Based on the first eight years of business this innovative fin tech has a very strong future. Square is expanding it’s hardware line to attract more verticals and rapidly growing it’s software and services business including employee management, payroll, appointments, and customer solutions to name just a few. Expect much more to come from Square.