Square is extending its platform further into the restaurant and retail space, thanks to two new integrations. The commerce company announced on Monday that it’s now tied into TouchBistro and Vend point-of-sale (POS) solutions, giving sellers access to services that let them accept chip cards and Apple Pay and that provide instant deposit, analytics, and more.
In joining with TouchBistro and Vend, Square is continuing the trajectory that it laid out for the past year. From its app marketplace to the release of its Build with Square platform, the company is showcasing the next phase of its growth. But these aren’t the first integrations, as Square also recently partnered with UpServe to power loans for restaurants through its Square Capital program.
What this means is that restaurants and retailers that are using these two POS systems but want to experience the capabilities of Square can now do so. “Today’s partnership with TouchBistro and Vend is a natural fit for our companies and means that more sellers will have access to payments and financial services to reinvest in their business,” remarked Square business lead Francoise Brougher.
While Square has spent years catering to small businesses, it needs to expand its reach to include those that are growing into larger entities. This was the reasoning behind Square’s latest platform, which doesn’t limit merchants to off-the-shelf products. “We’ve found that as merchants grow, or you move more up market, there’s a need for customization. These companies will either work with existing developers to build apps or, if they’re larger merchants, will have their own IT shop,” Square’s general manager Carl Perry said in March.
This likely explains the appeal of TouchBistro and Vend, which count large sellers, such as full-service restaurants and retailers, as customers.
Extending itself should keep Square competitive in the long run and assuage the fears of those who have expressed concerns that a closed system limits Square’s reach. Forrester’s principal analyst on payments, Brendan Miller, once shared that what draws small businesses to Square is the comprehensive nature of its platform. However, large merchants want the opposite approach, preferring a “best of breed” solution, and this is the direction Square is now moving in.
Only a select few TouchBistro and Vend customers will have access to this integration today, but it’s rolling out to all in the coming weeks.