Square announced Wednesday (May 18) that it has acquired GoParrot, a digital ordering and marketing platform for restaurants.
According to a Square blog post, GoParrot lets restaurants connect more easily and directly with customers through omnichannel means.
Square sellers will be able to access more customer experience through an app which merchants can customize, and the app will let buyers place orders and also look into top-selling items and deal popups. Additionally, restaurants will reportedly be able to boost buyer retention, offering customers a way to track loyalty rewards from mobile devices.
The release said GoParrot also offers restaurants an advanced marketing software with multi-stage automated efforts for campaigns around abandoned carts, holidays and other things. Square sellers will be able to access in-depth marketing reports and see things like customer engagement and revenue growth.
GoParrot solutions are currently available in the United States, Canada, the United Kingdom and Australia.
Square has reported success with its buy now, pay later (BNPL) workings, with Head Jack Dorsey and Chief Financial Officer Amrita Ahuja telling analysts that the latest results show how BNPL has been helping generate repeat consumer transactions and more conversion.
“We’re just getting started in integrating Afterpay and Cash App,” Dorsey said on an earnings call with analysts. “We plan to make BNPL available for in-person payments, soon, as well.”
He said that despite the early nature of the integration at the time, it was “the biggest thing that our company has ever done.”
Square recently integrated the Afterpay BNPL functionality with its Square Online and eCommerce API. This added 13,000 Square merchants to the BNPL operations in the first quarter, and that activity added 10% to Afterpay’s active sellers.
Ahuja said there are 144,000 merchants on the company’s platform reaching 20 million customers. He said credit quality played a part, as the loss rate for credit quality was slightly above 1% and 90% of payments were made on time.