UPDATED 13:46 EDT / AUGUST 29 2016

NEWS

Square partners with two competitors to expand its payment platform

Square, Inc., which was founded by Twitter, Inc. co-founder and CEO Jack Dorsey, has made a name for itself as the go-to point-of-sales solution for many small businesses, and now the company has announced that it will be able to support even more businesses thanks to new integrations with TouchBistro and Vend, two rival point-of-sales companies. According to Square, the new integrations will allow businesses to take advantage of it software and services while using TouchBistro or Vend hardware.

In a blog post, the Square team explained that many restaurants have built their businesses using TouchBistro or Vend as their point-of-sales solutions, and by adding Square’s software on top of that existing infrastructure, businesses can gain access to a wide variety of new features. This includes the ability to accept chip cards and Apple Pay, along with a number of other features, including instant deposits and sales analytics.

“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,” said Francoise Brougher, Business Lead at Square.

According to Square, the integrations are already live for a select number of TouchBistro and Vend businesses, and they will be available to all users within the next few weeks.

Why integrate with competitors?

It may seem strange for Square to partner up with two companies that offer very similar services, but the move means that the company will get more people using its services even if they do not purchase its hardware. For TouchBistro and Vend, the integration means that they are more likely to hold onto customers who may have been considering switching to Square entirely.

“TouchBistro’s integration with Square is simply a great combination for food businesses, from cafes to full-service restaurants,” Alex Barrotti, CEO and founder of TouchBistro, said in a statement. “We strive to partner with best-in-class technology companies to deliver a cohesive solution that meets the many faceted needs of our customers.”

“Square is a perfect partner for us, with our shared focus on creating beautiful in-store customer experiences,” added Alex Fala, CEO of Vend. “It’s just a great match, and we’re excited to be working together to allow our large base of retailers to start using Square.”

Square’s new integrations come just two weeks after the company announced a partnership with Upserve Inc., a SaaS company that offers a restaurant management suite that gives restaurant owners the ability to create shift schedules, optimize food menus, view sales analytics, and more. Earlier this month, Square also posted better than expected second quarter results, leading to a slight bump in its share prices.

Image courtesy of Square Inc.

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