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Square Launches Orders Platform

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Square has launched a new Orders Platform in the third quarter of 2024, marking a significant infrastructure shift for the company. This best-in-class commerce platform combines leading payments and ordering capabilities for sellers across the United States. The platform is designed to provide expanded commerce features like Pre-Auth and Bar Tabs to sellers of all sizes and verticals.

The new order-based infrastructure aims to help sellers grow their businesses by enabling them to complete sales anywhere and anyhow, promoting efficient operations and improved customer experiences. Saumil Mehta, Head of Product for Square, emphasized that this platform is a key unlock for innovation and is expected to accelerate product velocity going forward.

With the Orders Platform, Square will offer sellers more checkout flexibility, allowing customers to order ahead, open bar tabs, or set up subscriptions, thus providing more options to capture sales across various business types.

Square ha lanciato una nuova Piattaforma Ordini nel terzo trimestre del 2024, segnando un cambiamento significativo nell'infrastruttura per l'azienda. Questa piattaforma commerciale di livello superiore combina le migliori capacità di pagamento e ordinazione per i venditori negli Stati Uniti. La piattaforma è progettata per offrire funzionalità commerciali ampliate come Pre-Auth e Bar Tabs, per venditori di tutte le dimensioni e settori.

La nuova infrastruttura basata sugli ordini mira ad aiutare i venditori a far crescere le loro attività consentendo loro di completare le vendite ovunque e in qualsiasi modo, promuovendo operazioni efficienti e un miglioramento delle esperienze dei clienti. Saumil Mehta, responsabile del prodotto per Square, ha sottolineato che questa piattaforma rappresenta un punto chiave per l'innovazione e si prevede che acceleri la velocità di sviluppo dei prodotti in futuro.

Con la Piattaforma Ordini, Square offrirà ai venditori maggiore , consentendo ai clienti di ordinare in anticipo, aprire conti bar, o impostare abbonamenti, fornendo così più opzioni per catturare vendite attraverso vari tipi di attività.

Square ha lanzado una nueva Plataforma de Pedidos en el tercer trimestre de 2024, marcando un cambio significativo en la infraestructura de la empresa. Esta plataforma de comercio de primera clase combina las mejores capacidades de pagos y pedidos para vendedores en los Estados Unidos. La plataforma está diseñada para proporcionar características comerciales ampliadas como Pre-Auth y Bar Tabs a vendedores de todos los tamaños y sectores.

La nueva infraestructura basada en pedidos tiene como objetivo ayudar a los vendedores a hacer crecer sus negocios permitiéndoles completar ventas en cualquier lugar y de cualquier manera, promoviendo operaciones eficientes y mejorando la experiencia del cliente. Saumil Mehta, jefe de producto de Square, enfatizó que esta plataforma es un clave para la innovación y se espera que acelere la velocidad de los productos en el futuro.

Con la Plataforma de Pedidos, Square ofrecerá a los vendedores más flexibilidad en el proceso de pago, permitiendo a los clientes hacer pedidos por adelantado, abrir cuentas de bar o establecer suscripciones, proporcionando así más opciones para captar ventas en varios tipos de negocios.

Square는 2024년 3분기에 새로운 주문 플랫폼을 출시하며 회사의 인프라에 상당한 변화를 가져왔습니다. 이 최첨단 상거래 플랫폼은 미국 전역의 판매자를 위한 선도적인 결제 및 주문 기능을 결합합니다. 이 플랫폼은 모든 규모와 업종의 판매자에게 사전 승인 및 바 탭과 같은 확장된 상거래 기능을 제공하도록 설계되었습니다.

새로운 주문 기반 인프라는 판매자가 어디서든 어떻게든 판매를 완료할 수 있도록 하여 비즈니스 성장을 돕고, 효율적인 운영과 향상된 고객 경험을 촉진하는 것을 목표로 합니다. Square의 제품 책임자인 Saumil Mehta는 이 플랫폼이 혁신을 위한 핵심 요소이며, 앞으로 제품 속도를 가속화할 것으로 예상된다고 강조했습니다.

주문 플랫폼을 통해 Square는 판매자에게 더 많은 체크아웃 유연성을 제공하며, 고객이 미리 주문하거나 바 탭을 열거나 구독을 설정할 수 있도록 하여 다양한 비즈니스 유형에서 판매를 잡을 수 있는 더 많은 옵션을 제공합니다.

Square a lancé une nouvelle Plateforme de Commandes au troisième trimestre 2024, marquant un changement significatif d'infrastructure pour l'entreprise. Cette plateforme de commerce de pointe allie des capacités de paiement et de commande de premier plan pour les vendeurs à travers les États-Unis. La plateforme est conçue pour offrir des fonctionnalités commerciales étendues telles que Pre-Auth et Bar Tabs aux vendeurs de toutes tailles et secteurs.

La nouvelle infrastructure basée sur les commandes vise à aider les vendeurs à développer leurs activités en leur permettant de compléter les ventes où que ce soit et de n'importe quelle manière, favorisant des opérations efficaces et améliorant l'expérience client. Saumil Mehta, responsable produit chez Square, a souligné que cette plateforme représente un élément clé pour l'innovation et devrait accélérer la vitesse des produits à l'avenir.

Avec la Plateforme de Commandes, Square offrira aux vendeurs plus de flexibilité lors du paiement, permettant aux clients de commander à l'avance, d'ouvrir des comptes de bar ou de mettre en place des abonnements, offrant ainsi plus d'options pour capter des ventes à travers différents types d'entreprises.

Square hat im dritten Quartal 2024 eine neue Bestellplattform gestartet, die einen signifikanten Infrastrukturwechsel für das Unternehmen darstellt. Diese erstklassige Handelsplattform kombiniert führende Zahlungs- und Bestellmöglichkeiten für Verkäufer in den Vereinigten Staaten. Die Plattform ist so konzipiert, dass sie erweiterte Handelsfunktionen wie Pre-Auth und Bar Tabs für Verkäufer aller Größen und Branchen bietet.

Die neue bestellbasierte Infrastruktur zielt darauf ab, Verkäufern zu helfen, ihr Geschäft zu erweitern, indem sie Verkäufe überall und auf jede Weise abschließen können, was effiziente Abläufe und verbesserte Kundenerlebnisse fördert. Saumil Mehta, Produktleiter bei Square, betonte, dass diese Plattform ein wichtiger Schlüssel zur Innovation sei und voraussichtlich die Produktgeschwindigkeit in Zukunft beschleunigen wird.

Mit der Bestellplattform wird Square den Verkäufern mehr Kassenflexibilität bieten, damit Kunden im Voraus bestellen, Bar Tabs öffnen oder Abonnements einrichten können, wodurch sie mehr Möglichkeiten zur Verkaufsaufnahme in verschiedenen Geschäftstypen erhalten.

Positive
  • Launch of new Orders Platform in Q3 2024, enhancing commerce capabilities
  • Expanded features like Pre-Auth and Bar Tabs for sellers of all sizes
  • Potential for increased sales through flexible checkout options
  • Expected acceleration in product innovation and velocity
Negative
  • None.

Insights

Square's launch of the Orders Platform marks a significant strategic move that could potentially boost the company's competitive edge in the payments and commerce space. This infrastructure shift is likely to enhance Square's product offering, potentially leading to increased market share and revenue growth. The platform's ability to offer expanded commerce capabilities like Pre-Auth and Bar Tabs across various seller sizes and verticals could drive adoption and customer retention. Moreover, the focus on operational efficiency and customer experience aligns well with market trends. However, the full financial impact remains to be seen, as it will depend on adoption rates and the platform's ability to generate additional revenue streams. Investors should monitor key metrics in upcoming quarters, such as gross payment volume, seller retention and revenue growth, to gauge the platform's success and its impact on Square's financial performance.

The Orders Platform represents a significant technological advancement for Square, showcasing the company's commitment to innovation in the fintech space. By creating a unified commerce platform with integrated payments and ordering capabilities, Square is positioning itself at the forefront of omnichannel retail solutions. The platform's flexibility to complete sales "anywhere and anyhow" addresses the growing demand for seamless, multi-channel commerce experiences. The infrastructure shift also suggests improved scalability and potential for faster feature rollouts, which could accelerate Square's product development cycle. This could be particularly advantageous in the rapidly evolving fintech landscape. However, the success of this platform will largely depend on its reliability, ease of integration for sellers and Square's ability to continuously innovate on top of this new foundation. Investors should pay attention to adoption rates, seller feedback and the pace of new feature releases in the coming quarters.

DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.--(BUSINESS WIRE)-- In the third quarter of 2024, Square completed a significant infrastructure shift, creating a best-in-class commerce platform with leading payments and ordering capabilities for sellers. The new platform fundamentally changes how the company builds products and will provide expanded commerce capabilities like Pre-Auth and Bar Tabs to sellers of all sizes across verticals in the U.S.

Square’s new order-based infrastructure is designed to help sellers grow their business by enabling them to complete a sale anywhere and anyhow, which allows them to run an efficient operation that delights customers and gives sellers time back.

“We are thrilled that sellers in the U.S. are now on the new Orders Platform, which is currently in general availability. This is a key unlock for innovation and we expect this will accelerate product velocity going forward,” said Saumil Mehta, Head of Product for Square. “With the Orders platform, Square will be able to provide more checkout flexibility to sellers - whether their customers are seeking to order ahead, open a bar tab or set up a subscription, sellers using Square will be able to offer more options to capture sales across their businesses.”

To learn more about Square’s latest offerings, visit our website.

About Square

Square makes commerce and financial services easy and accessible with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. Square, Cash App, Spiral, TIDAL and TBD are a part of Block, Inc. (NYSE: SQ). For more information, visit www.squareup.com.

Safe harbor statements

This press release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding our expectations regarding product capabilities.

Risks that contribute to the uncertain nature of the forward-looking statements include, among others, risks and uncertainties relating to the Company described from time to time in the Company’s filings with the Securities and Exchange Commission (the SEC), including the Company’s most recent Quarterly Report on Form 10-Q, which is on file with the SEC. All forward-looking statements are based on information and estimates available to the Company at the time of this press release. Except as required by law, the Company assumes no obligation to update any of the statements in this press release.

Media Contact

press@block.xyz

Investor Relations Contact

ir@block.xyz

Source: Block, Inc.

FAQ

When did Square (SQ) launch its new Orders Platform?

Square (SQ) launched its new Orders Platform in the third quarter of 2024.

What new features does Square's (SQ) Orders Platform offer?

Square's (SQ) Orders Platform offers expanded commerce capabilities like Pre-Auth and Bar Tabs, as well as more checkout flexibility including order-ahead, bar tabs, and subscription options.

How will the Orders Platform benefit Square (SQ) sellers?

The Orders Platform will help Square (SQ) sellers grow their business by enabling them to complete sales anywhere and anyhow, run more efficient operations, and offer more options to capture sales across their businesses.

Who is the Head of Product for Square (SQ) mentioned in the press release?

Saumil Mehta is mentioned as the Head of Product for Square (SQ) in the press release.

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