Square has inked a deal to process payments at select Whole Foods locations, the two companies announced early Tuesday.
The deal marks Square's first partnership with a major grocery store chain. Whole Foods is arguably Square's most prominent retail partner since Starbucks agreed to use the startup's digital payment products at about 7,000 locations in 2012.
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“Whole Foods Market and Square share a focus on supporting local sellers and creating amazing shopping experiences,” Jack Dorsey, cofounder and CEO of Square, said in a statement. “With Square, Whole Foods Market will enable commerce in more parts of their stores with easy, accessible tools that showcase the best of what’s achievable in the service of retailers and customers.”
The Square Stand, Square's point-of-sale system, is currently being used at seven Whole Foods locations and will be introduced at more stores this year. For now, though, Square is not being used for Whole Foods' main checkout lines. Instead, the payment tool is being used at Whole Foods' "in-store venues," including sandwich counters, juice bars and pizzerias.
The partnership between Square and Whole Foods comes at a time when Square is rumored to be prepping for an IPO. Square reportedly generated more than $100 million in revenue last year and major partnerships like this one could help boost that number higher.
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