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Whole Foods Inks Payment Systems Deal With Square

By Eric Volkman – Feb 11, 2014 at 11:15PM

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Whole Foods will use the e-payment purveyor's wares to offer alternative means of paying for food and beverages at some of its in-store venues.

Whole Foods Market (WFM) is bringing a modern payment system into its stores. The grocery-chain operator announced that it has signed a deal with e-payments specialist Square to bring the latter's systems to some of its prepared food and beverage counters in select stores. These venues will use Square Register and Square Stand to accept payments from customers, allowing them to pay directly at the venues, as opposed to the traditional method of waiting in line at a checkout register.

The terms of the deal were not disclosed.

Whole Foods added that at select venues, customers will have the option to pay with their mobile device using Square Wallet, an app from the payments company.

Whole Foods is slated to release its latest quarterly figures on Wednesday. On average, analysts are expecting EPS of $0.44 on revenue of $4.3 billion. 

John Mackey, co-CEO of Whole Foods Market, is a member of The Motley Fool's board of directors.

Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Whole Foods Market. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Whole Foods Market, Inc.
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