In the third quarter of 2024, Square completed a significant infrastructure shift, creating a best-in-class commerce platform with leading payments and ordering capabilities for sellers. The new platform fundamentally changes how the company builds products and will provide expanded commerce capabilities like Pre-Auth and Bar Tabs to sellers of all sizes across verticals in the U.S.

Square’s new order-based infrastructure is designed to help sellers grow their business by enabling them to complete a sale anywhere and anyhow, which allows them to run an efficient operation that delights customers and gives sellers time back.

“We are thrilled that sellers in the U.S. are now on the new Orders Platform, which is currently in general availability. This is a key unlock for innovation and we expect this will accelerate product velocity going forward,” said Saumil Mehta, Head of Product for Square. “With the Orders platform, Square will be able to provide more checkout flexibility to sellers - whether their customers are seeking to order ahead, open a bar tab or set up a subscription, sellers using Square will be able to offer more options to capture sales across their businesses.”

To learn more about Square’s latest offerings, visit our website.

About Square

Square makes commerce and financial services easy and accessible with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. Square, Cash App, Spiral, TIDAL and TBD are a part of Block, Inc. (NYSE: SQ). For more information, visit www.squareup.com.

Safe harbor statements

This press release contains forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, statements regarding our expectations regarding product capabilities.

Risks that contribute to the uncertain nature of the forward-looking statements include, among others, risks and uncertainties relating to the Company described from time to time in the Company’s filings with the Securities and Exchange Commission (the SEC), including the Company’s most recent Quarterly Report on Form 10-Q, which is on file with the SEC. All forward-looking statements are based on information and estimates available to the Company at the time of this press release. Except as required by law, the Company assumes no obligation to update any of the statements in this press release.

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