Square Partners With Software Entrepreneurs

The mobile payment system has deals with Vend and TouchBistro.

August 31, 2016

SAN FRANCISCO – Square Inc. has joined with Vend and TouchBistro to promote its products to bigger companies, Bloomberg reports. More than 15,000 merchants use Vend’s POS software, while restaurants in more than 35 nations utilize TouchBistro’s restaurant-specific POS software.

Prior to the Square deal, Vend and TouchBistro retailers had to cobble together payment services from a variety of venders. The agreement allows these merchants to implement Square’s payment service along with their current POS systems.

“In the last two to three years there’s been a clear intent and signal to the market that we’re becoming a more and more open platform,’ said Francoise Brougher, who heads Square’s business. “Sellers are using many different products and we want to respect their workflow, but make sure we are in the flow of the tools they use.”

Square began by offering food truck vendors and other small merchants its smartphone and tablet plug-in devices that allow businesses to accept credit and debit cards. Now the company gives its business partners inventory and sales analysis, plus loan opportunities.

Square went public in November 2015; in February 2016, Visa became a 9.99% stakeholder in the class A shares of Square.

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