Square Enhances Merchant Payment Solutions
Block, the parent company behind Square’s payment platform, has introduced several new features aimed at benefiting merchants. These include AI-powered voice ordering for restaurants, improved AI assistant capabilities offering local insights, and a comprehensive solution for Bitcoin transactions.
Restaurants and cafes using Square can now utilize AI to manage incoming calls efficiently. This feature is especially advantageous for cloud kitchens and delivery-centric businesses, allowing them to delegate tasks like order-taking and menu inquiries to AI. The system can respond to questions such as, “What specials do you have today?” or “Can I make my dish spicy without dairy?”
Other companies like Yelp and Kea are also developing AI voice solutions for the restaurant sector. However, Square’s offering distinguishes itself by being seamlessly integrated with its payment and kiosk systems, facilitating better order management for restaurants.
Additionally, Square is now integrating with Grubhub to simplify third-party delivery orders. The company has also redesigned its kiosk interface for easier access to popular menu items and added an AI-driven inventory management tool to assist restaurants in optimizing their supplies.
Square is also enhancing its AI assistant, launched earlier this year in beta, to provide local insights such as weather updates, nearby events, and industry trends. Merchants can now save visualizations based on their data and queries as auto-updating widgets on their dashboards.
Bitcoin Integration Enhancements
Jack Dorsey, co-founder of Block, has shown a strong interest in Bitcoin. Square began allowing merchants to convert a portion of their daily sales into Bitcoin last year, and now it is introducing a comprehensive Bitcoin solution, including a wallet service for sellers.
To further promote Bitcoin adoption, businesses will be able to accept Bitcoin directly via their point-of-sale systems, benefiting from no transaction fees for the first year. Starting in 2027, the company plans to implement a 1% processing fee.
Square’s integrated Bitcoin wallet will allow users to buy, sell, hold, and withdraw the cryptocurrency directly through their dashboard. Merchants can now opt to convert up to 50% of their daily earnings into Bitcoin, with over $17 million in Bitcoin accumulated by users since the program’s inception.
“The Bitcoin tools we’re building at Square address essential needs: ensuring sellers never miss a sale and providing them with robust financial management tools,” said Miles Suter, head of Bitcoin Product at Block. He emphasized that Square aims to make Bitcoin as approachable for small businesses as traditional card payments and is well-positioned to facilitate everyday usage of Bitcoin for transactions.
