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Square has launched Square for Restaurants in Canada, a specialized point of sale (POS) solution for restaurants, breweries, cafés, and bars. This all-in-one system enhances speed and flexibility, especially under COVID-19 restrictions, allowing managers to update menus remotely and manage staff effectively. Early adopters like The Brake Room have reported improved operations and customer experiences. The POS enables online ordering without monthly fees, facilitating delivery, curbside pickup, and self-service options.

Square continues to empower businesses with innovative tools since its inception in 2009.

Square, Inc. has launched its industrial bank, Square Financial Services, after receiving charter approval from the FDIC and Utah Department of Financial Institutions. This new entity will provide business loans and deposit products, primarily serving Square sellers across the U.S. The bank aims to enhance access to financing, particularly for underserved communities, with 58% of its loans going to women-owned businesses. The bank is not expected to significantly impact Square's financial metrics in 2021. Square's executive team for the bank includes leaders with extensive experience in finance and lending.

Square has published its new report exploring the future of commerce for restaurants and retailers. Collaborating with Wakefield Research, the survey reveals that 88% of retailers are now selling online, with significant revenue shifts toward e-commerce. Key findings include that 91% of restaurants plan to invest in kitchen automation technology and expect 62% of their revenue to come from takeout or delivery. Square emphasizes the transformation in retail and restaurant strategies, driven by technology and changing consumer preferences, offering opportunities for businesses to innovate and thrive in 2021.

Square, Inc. (NYSE: SQ) announced its fourth quarter and full year 2020 results, now available on the Investor Relations website. A conference call discussing these results is set for later today. Notably, Square has purchased approximately 3,318 bitcoins for $170 million, totaling $220 million in bitcoin investments, representing 5% of its cash and equivalents. This aligns with Square's vision of cryptocurrency as a tool for economic empowerment, highlighting its ongoing commitment to bitcoin as part of its broader investment strategy.

Square will announce its financial results for Q4 and the full year of 2020 on February 23, 2021, post-market close. An earnings call and webcast are scheduled for 2:00 p.m. PT/5:00 p.m. ET on the same date. Participants can register or listen via the Investor Relations section of Square's website. Founded in 2009, Square has transformed payment processing, enabling users to accept card payments through mobile devices. The company continues to provide various tools for businesses and individuals, enhancing their ability to engage in the economy.

Square has partnered with POWDR to enhance payment and e-commerce solutions at nearly a dozen ski resorts in the U.S. and Canada. This collaboration allows for touch-free transactions and improved customer experiences in hospitality environments. Key venues include Copper Mountain and Killington, among others. Square's comprehensive software and hardware solutions enable online ordering and contactless payments, aligning with POWDR's focus on safety during the ongoing pandemic. The partnership positions Square to tap into the dynamic ski resort market.

Square has launched Square Appointments on Square Register, enhancing their point-of-sale solution specifically designed for beauty and wellness businesses. This integrated system allows sellers to manage appointments, inventory, and payments seamlessly. Key features include a modern aesthetic, a large display for staff management, and safe, contactless checkouts. The solution is priced at $799 plus processing fees. Square aims to offer a complete POS solution to improve customer experience and streamline operations for multi-staff businesses.

Square has announced its acquisition of Credit Karma Tax for $50 million in cash, aimed at enhancing its Cash App services. This acquisition allows Cash App to offer a free tax filing service to millions of Americans, aligning with its mission of economic empowerment. By integrating Credit Karma Tax, Cash App hopes to expand its ecosystem, which currently includes various financial tools. Credit Karma Tax has assisted over two million filers recently, emphasizing the growing trend of self-prepared tax returns.

Square has launched the Square KDS, a kitchen display system designed to enhance order management for restaurants amidst challenges such as shelter-in-place orders. This modern tool organizes and displays order tickets from various platforms, improving efficiency and communication between kitchen staff and customers. Users can benefit from ticket timers and performance reports, allowing better preparation during busy periods. The system is available for $60 per month with a 30-day trial for new users, supporting restaurants in adapting to evolving customer ordering preferences.