Twitter Icon Wants to Fix How Fast-Food Does Business
Twitter founder Jack Dorsey’s mobile payments firm Square has announced a new update for the company’s mobile payment service, Square Register, meant to make it more attractive to U.S. quick-service restaurants. Square is already being used by about 3 million U.S. merchants, among them several thousand Starbucks locations, but Dorsey hopes that these new tweaks will help bring the service into the food service industry. In particular, the new update includes restaurant-specific features focused on order accuracy, such as the ability to attach customer names to specific orders. Dorsey believes Square’s competitive price, with interchange fees nearly half those charged by most card payment services, along with these new modifications will make Square attractive to smaller fast-food operations, for whom high interchange fees and costly point of sale equipment are a major concern. Dorsey says restaurants are just the next step for Square, which he believes “has the potential to carry all of commerce.”
From “Twitter Icon Wants to Fix How Fast-Food Does Business”
USA Today (04/29/13) Horovitz, Bruce