Ever eager to widen its portfolio of offerings, popular fintech Square (NYSE:SQ) is rolling out a new software platform for restaurants. The company announced Tuesday the launch of Square KDS, with the initials standing for Kitchen Display System.
As the name implies, Square KDS consolidates, organizes, and displays order tickets for restaurants and other business in the food and beverage sector. Those tickets can come from multiple sources: in-restaurant, online orders, delivery services, etc.
The company said the platform is also customizable, with users able to design the layouts and text sizes of their tickets.
Square is touting this as one lifeline for the restaurant industry, which has been under significant pressure due to the closures frequently mandated by municipalities and states.
In its announcement, the company quoted its head of restaurant products Bruce Bell as saying, "With restaurants facing shelter-in-place orders, uncertain reopening schedules, and razor-thin margins, it's more important than ever to stay organized and never miss a sale."
Square correctly pointed out that many food establishments still rely on the old-fashioned method of paper order submittals, which is particularly creaky given the ease and popularity of online ordering (at least for delivery and pickup).
Square KDS is part of the company's Square for Restaurants Plus service, a software suit that is priced starting at $60 per month. Potential customers can audit Square KDS with a 30-day trial period the company describes as "risk-free."
Tuesday was a good day for Square investors. Their stock closed with a 4.9% gain, in contrast to the decline of the S&P 500 index.