Square (SQ) Boosts Reach to Ski Resorts With POWDR Partnership
Square, Inc. SQ has collaborated with POWDR in a bid to strengthen its key offerings across certain ski resorts in the United States and Canada.
Notably, the company’s two-side commerce platform will enable POWDR to deliver experiences of contactless payments, e-commerce and point-of-sale (“POS”) to visitors at retail, food and beverages, and online sites of these resorts.
To name a few, Square for Restaurants, Square for Retail, Square Registers, Square Terminals and Square Stands, which are being used to power POWDR’s ecosystem, are well-equipped to cater to the growing demand for touch-free commerce services in this pandemic scenario.
Additionally, visitors of the resorts will be able to purchase certain season passes via Square’s integration with a commerce platform designed for ski called Aspenware.
We note that the latest move of Square is expected to bolster the adoption rate of its commerce platform in this ski season. This, in turn, will likely drive the company’s top-line growth.
Square, Inc. Price and Consensus
Square, Inc. price-consensus-chart | Square, Inc. Quote
Contactless Drive Gaining Steam
The ongoing ‘social-distancing’ phase in the current pandemic situation induced by the rapidly spreading contagious coronavirus has made touch-free transactions somewhat inevitable.
Not only Square but also other online payment solutions providers such as PayPal PYPL, Alphabet’s GOOGL Google, Stripe, Apple, Amazon AMZN, Facebook and Samsung are leaving no stone unturned to capitalize on this solid opportunity.
Customers, store operators and other merchants, utility providers, and even banking organizations are opting for online payments over offline or contact payments in a bid to adhere to the COVID-led social-distancing protocol.
We believe Square is likely to gain strong traction on the back of its latest move, and a robust portfolio of software and hardware offering touch-free services during the ongoing pandemic.
Further, the move bodes well for the company’s strengthening endeavors to expand presence in the digital payment solutions space on the back of its expanding product and services offerings, which have been playing a significant role in shaping its growth trajectory.
Recently, the company made Square Appointments available on Square Register with the help of which its reach to beauty and wellness sellers is likely to expand.
Apart from Square Appointments, the company recently made its kitchen display system software called Square KDS generally available for restaurants of all sizes. Square KDS is well-equipped to improvise ticket times, and enhance front and back of house communications of restaurants.
Notably, expanding portfolio will continue to drive the company’s momentum across the seller ecosystem, which remains very crucial.
Currently, Square carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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