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Square Teams up with Sysco, Delivers New Features to Save Restaurants Time and Smooth Cash Flow

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Square (SQ) has announced a strategic partnership with Sysco, a leading global foodservice distributor, to expand its restaurant technology solutions. Through Sysco's Restaurant Solutions program, Square's technology suite will be promoted and sold to Sysco's customers.

The company also unveiled new features rolling out to sellers, with full availability in early 2025, including: Bar Tabs preauthorization for credit card or digital wallet payments, Instant Payouts for restaurants using Square Checking to receive immediate funds from third-party delivery platforms without fees, and House Accounts for regular or institutional clients with flexible invoicing options.

Square (SQ) ha annunciato una partnership strategica con Sysco, un importante distributore globale di servizi alimentari, per espandere le sue soluzioni tecnologiche per ristoranti. Attraverso il programma Restaurant Solutions di Sysco, la suite tecnologica di Square sarà promossa e venduta ai clienti di Sysco.

L'azienda ha anche svelato nuove funzionalità che saranno disponibili per i venditori, con un lancio completo all'inizio del 2025, tra cui: Bar Tabs per la preautorizzazione dei pagamenti tramite carta di credito o portafoglio digitale, Instant Payouts per i ristoranti che utilizzano Square Checking per ricevere fondi immediati dalle piattaforme di consegna di terzi senza commissioni e House Accounts per clienti abituali o istituzionali con opzioni di fatturazione flessibili.

Square (SQ) ha anunciado una alianza estratégica con Sysco, un destacado distribuidor global de servicios de alimentos, para expandir sus soluciones tecnológicas para restaurantes. A través del programa Restaurant Solutions de Sysco, la suite tecnológica de Square será promovida y vendida a los clientes de Sysco.

La empresa también presentó nuevas características que estarán disponibles para los vendedores, con plena disponibilidad a principios de 2025, incluyendo: Bar Tabs para la preautorización de pagos con tarjeta de crédito o billetera digital, Instant Payouts para restaurantes que utilizan Square Checking para recibir fondos inmediatos de plataformas de entrega de terceros sin comisiones, y House Accounts para clientes habituales o institucionales con opciones de facturación flexibles.

Square (SQ)는 글로벌 주요 식품 서비스 유통업체인 Sysco와 전략적 파트너십을 발표하며 레스토랑 기술 솔루션을 확장할 예정입니다. Sysco의 Restaurant Solutions 프로그램을 통해 Square의 기술 제품군이 Sysco 고객에게 홍보되고 판매될 것입니다.

회사는 또한 판매자에게 제공될 새로운 기능을 공개했으며, 2025년 초에 완전히 사용할 수 있게 됩니다. 여기에는 Bar Tabs로 신용 카드 또는 디지털 지갑 결제를 위한 사전 승인, Instant Payouts가 포함되어 있어 Square Checking을 사용하는 레스토랑이 제3자 배달 플랫폼으로부터 수수료 없이 즉시 자금을 받을 수 있으며, House Accounts는 유연한 청구 옵션을 제공하는 정기 고객 또는 기관 고객을 위한 것입니다.

Square (SQ) a annoncé un partenariat stratégique avec Sysco, un distributeur mondial leader dans le secteur de la restauration, pour élargir ses solutions technologiques pour les restaurants. Grâce au programme Restaurant Solutions de Sysco, la suite technologique de Square sera promue et vendue aux clients de Sysco.

L'entreprise a également dévoilé de nouvelles fonctionnalités qui seront mises à disposition des vendeurs, avec une disponibilité complète début 2025, parmi lesquelles : Bar Tabs pour la préautorisation des paiements par carte de crédit ou portefeuille numérique, Instant Payouts pour les restaurants utilisant Square Checking afin de recevoir des fonds immédiats de plateformes de livraison tierces sans frais, et House Accounts pour des clients réguliers ou institutionnels avec des options de facturation flexibles.

Square (SQ) hat eine strategische Partnerschaft mit Sysco, einem führenden globalen Anbieter von Foodservice, angekündigt, um seine Technologielösungen für Restaurants zu erweitern. Durch das Restaurant Solutions Programm von Sysco wird die Technologie-Suite von Square beworben und an Sysco-Kunden verkauft.

Das Unternehmen hat außerdem neue Funktionen vorgestellt, die Anfang 2025 vollständig verfügbar sein werden, darunter: Bar Tabs zur Vorautorisierung von Zahlungen mit Kreditkarte oder digitaler Geldbörse, Instant Payouts für Restaurants, die Square Checking verwenden, um sofortige Gelder von Drittanbieter-Lieferplattformen ohne Gebühren zu erhalten, und House Accounts für regelmäßige oder institutionelle Kunden mit flexiblen Rechnungsoptionen.

Positive
  • Strategic partnership with Sysco expands market reach to more restaurants worldwide
  • New Instant Payouts feature eliminates up to 11-day payment delays from delivery platforms
  • Bar Tabs feature improves operational efficiency and payment security
  • Zero additional fees for Instant Payouts service
Negative
  • Full feature availability delayed until early 2025
  • Instant Payouts to Square for Restaurants Plus and Premium subscribers

Insights

This strategic partnership with Sysco, a major foodservice distributor, represents a significant growth opportunity for Square. The deal will expand Square's market reach through Sysco's extensive customer network, potentially driving substantial revenue growth in the restaurant technology segment. The introduction of Instant Payouts addresses a critical pain point in restaurant cash flow management, particularly relevant given the industry's tight margins and the growing prevalence of delivery platforms. This feature could drive higher adoption rates among restaurants and increase Square's transaction volume.

The new Bar Tabs and House Accounts features demonstrate Square's commitment to product innovation and market responsiveness. These additions could help Square capture more market share in the higher-margin full-service restaurant and bar segments, potentially improving the company's revenue mix and profitability.

The partnership positions Square strategically in the restaurant technology sector, where there's increasing demand for integrated payment and management solutions. The timing is particularly relevant as restaurants continue to digitize operations and seek efficiency improvements. Square's enhanced feature set, including preauthorized bar tabs and instant payouts, addresses specific market needs and could help the company differentiate itself from competitors in the restaurant POS space.

The planned rollout through 2025 suggests a measured approach to implementation, which should help ensure smooth adoption. The collaboration with Sysco, which serves approximately 700,000 customer locations, could significantly accelerate Square's penetration in the food service sector, particularly among mid-sized and larger establishments where they've traditionally had less presence.

Strategic partnership with top foodservice provider and new product features bring more time-saving and easy-to-use tech to restaurants

OAKLAND, Calif.--(BUSINESS WIRE)-- Today, Square announced a new partnership with Sysco, a leading global foodservice distributor, along with a number of new features to help food and beverage sellers run their businesses with ease.

Strategic partnership with top foodservice provider and new product features bring more time-saving and easy-to-use tech to restaurants (Photo: Square)

Strategic partnership with top foodservice provider and new product features bring more time-saving and easy-to-use tech to restaurants (Photo: Square)

With new strategic partnership, Square and Sysco bring better technology to more restaurants

For more than a decade, Square has delivered innovative products to help food and beverage operators streamline operations and grow their businesses. Now, in partnership with Sysco, Square aims to bring the company’s powerful, intuitive technology solutions to more restaurants worldwide.

Sysco, a trusted leader in foodservice, supports and enhances their customers' success with a range of services, including top-tier technology recommendations through their Sysco Restaurant Solutions program. Now, as a Restaurant Solutions partner, Square’s technology suite will be promoted, co-marketed, and sold to Sysco’s customers.

“Sysco is committed to helping our customers succeed through innovative solutions and technology,” said Neil Russell, Chief Administrative Officer at Sysco. “Square’s technology is comprehensive and easy-to-use for operators and workers alike, and we know that their solutions can help food and beverage businesses work smarter, operate more efficiently, and find new avenues of growth.”

Square brings new and highly requested features to food and beverage businesses to save time, improve cash flow

Beyond the strategic partnership with Sysco, Square also announced new features to help restaurants run their businesses easily and efficiently. These features are currently rolling out to sellers, with full availability in early 2025.

  • Restaurants and bars can now preauthorize Bar Tabs for customers paying with credit card or digital wallet, improving the guest experience by speeding up ordering and simplifying checkout while also providing businesses with a secure payments experience. This feature is especially critical for bars and breweries, allowing these sellers to streamline service and start tabs without holding onto guests’ cards, all while protecting their bottomline.
  • With Instant Payouts1, restaurants using Square Checking can receive funds for orders made through third-party delivery platforms instantly and without additional fees, giving sellers immediate access to their earned revenue. Cash flow is a major pain point for restaurants, particularly as margins get tighter, and with third-party delivery platforms continuing to grow in popularity, the delay in time-to-money for the orders they fulfill – up to 11 days in some cases – can be extremely challenging. Instant Payouts addresses this challenge for sellers, helping them worry less about their liquidity and giving them the means to more quickly restock inventory, pay their teams, and get orders out the door. Instant Payouts is currently available to Square for Restaurants Plus and Premium sellers that have integrated DoorDash or Uber Eats into Square, with more third-party providers coming in 2025.
  • Sellers can now set up House Accounts for regulars or large institutional clients they know and trust, invoicing them monthly, quarterly, or whenever’s good for the business and customer.

“Holding onto people’s credit cards at the bar – and having 20-30 people per night forget to close out their tabs – can be a nightmare, so we were eager to work with Square on testing Bar Tabs for our brewery locations,” said Eric Lurwick, General Manager at Cisco Brewers on Nantucket. “We collaborated closely with the Square team on providing feedback to help fine-tune the product, and using Bar Tabs has made the lives of Cisco employees and customers a lot better.”

Sellers on Square for Restaurants can use Square’s Release Manager to easily opt into these new features at a time that makes sense for their businesses, giving operators the opportunity to train staff on changes before rolling out new functionality and ensure service is never disrupted.

“Day in and day out, our sellers are tasked with navigating the ever-changing and increasingly complex restaurant environment. We pride ourselves on listening to their challenges and needs so that we can deliver new solutions that make their lives easier,” said Ming-Tai Huh, Head of Food and Beverage at Square. “Any leg up we can give businesses – whether that’s through time saved or quicker access to revenue without more fees – is worth it to better equip them to succeed.”

To learn more about Square’s offerings for food and beverage businesses, 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. For more information, visit www.squareup.com.

__________________________

1 Instant Payouts services require a Square Checking account. Funds provided through Instant Payouts services are generally available in the Square Checking account balance immediately after an order is processed. Fund availability times may vary due to technical issues. If an order is not paid out instantly, it will be available according to your regular deposit schedule. Payout limits, including limits on payout amounts, may apply.

Block, Inc. is a financial services platform and not an FDIC insured bank. FDIC deposit insurance coverage only protects against the failure of an FDIC-insured deposit institution. If you have a Square Checking account, up to $250,000 of your balance may be covered by FDIC insurance on a pass-through basis through Sutton Bank, Member FDIC, subject to aggregation of the account holder’s funds held at Sutton Bank and if certain conditions have been met.

Other trademarks and brands are the property of their respective owners.

press@squareup.com

Source: Block, Inc.

FAQ

What does Square's partnership with Sysco mean for SQ shareholders?

The partnership allows Square to expand its market reach by having its technology solutions promoted and sold to Sysco's extensive customer base, potentially increasing revenue and market share.

When will Square's new restaurant features be fully available?

The new features are currently rolling out to sellers, with full availability expected in early 2025.

How does Square's new Instant Payouts feature benefit restaurants?

Instant Payouts allows restaurants using Square Checking to receive funds from third-party delivery platforms instantly without additional fees, improving cash flow management.

Which Square subscription levels can access the new Instant Payouts feature?

Instant Payouts is currently available only to Square for Restaurants Plus and Premium sellers who have integrated DoorDash or Uber Eats.

What new payment features is Square introducing for bars and restaurants?

Square is introducing Bar Tabs preauthorization for credit card or digital wallet payments, and House Accounts for regular or institutional clients with flexible invoicing options.

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