Square Revamps Wallet App Into Food-Ordering Service
Square’s looking for a piece of the dough when you go pick up a pizza, specifically of the green variety. The company behind Square Wallet pulled the 3-year-old app from Apple’s App Store and Google Play. In its place, a food-ordering app called Square Order has popped up. Re/code broke the story.
The idea behind Square Order is that users download the app and input credit card information for payment use. Smartphone users then use it to place an order before they even enter the shop, paying in advance with app. The café or restaurant then prepares the food for the customer to pick up. As a result, a customer doesn’t wait as long for his or her order.
The restaurant makes money from the order, minus the 8 percent of the total that goes to Square as a processing fee. While that sounds high, rival GrubHub starts at 10 percent. However, GrubHub also does delivery orders, while the new Square Order is currently only for pick ups. The lower rate is to encourage owners to adopt the new service.
While the old Square Wallet app was capable of being used while paying for food and other purchases, few places actually took it. Steven Bertoni of Forbes wrote about his experience using the old app for a story in his coverage of Square Order.