Square is taking another bite out of the restaurant space with the launch of a specialized point-of-sale system with on-demand delivery integration.
The platform leverages technology from Square's existing POS system Register and relies heavily on its food delivery business Caviar, resulting in a combined first-party ordering platform and point of sale.
In terms of restaurant workflows, Square for Restaurants lets managers update menus and floor layouts remotely across multiple POS terminals and restaurant locations. The system also offers built-in employee management tools, tip splitting, and fraud protection.
On the delivery side, the system lets servers and restaurant managers see delivery and pickup orders directly within the POS, speeding up operations and reducing incorrect orders, Square said.
Square's 2014 acquisition of Caviar was a bit of a head scratcher at the time, but the business has helped Square grow its subscription and services-based revenue to nearly $100 million. Now, it's serving as a differentiator among the bevy of restaurant POS systems on the market.
The platform not only gives restaurants a consolidated software portal that handles a majority of their business needs, but it also reduces friction for restaurants looking to use food delivery as a way to boost sales.
"Caviar's experience working with thousands of top restaurants across the country gave us the unique insight we needed to build a one-stop point of sale with on-demand delivery integration," said Gokul Rajaram, Caviar Lead at Square. "We're excited to bring Caviar and Square together and let our restaurant partners grow their businesses through delivery in an even more effortless way."
Square for Restaurants rounds out the company's vertical point-of-sale offerings, which include Square for Retail and Square Appointments for service-based businesses. Like Square's other vertical offerings, the restaurant iteration comes with integrated access to Square payments processing and other services, including Payroll and Capital.
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By combining the two food delivery services, Square has created Caviar Fastbite, an upscale food delivery service that promises to bring curated dishes to hungry San Franciscans in as little as 10 minutes.
The acquisition is a move to expand Caviar with more corporate catering services.