Square's Mobile Bet Is European
Americans, wallowing in the pangs of wanderlust, always wax poetic on the superiority of European culture after returning from a trip to Europe. The architecture is more ornate. Nightlife more organic. Languages more poetic. Streets more cobbled. Racism more subtle. For me, the food always stands out (I’m always told to write with a stronger point of view, so that was my hot take). It’s not just the butter and the wine, but the indelible atmosphere. The tiny details, coming together to create a unique and special environment. Whether it’s the sensation of being in a foreign land that makes the atmosphere feel so exceptional or something entirely unfathomable to my American brain, European dining culture has always held a mystique that has yet to be surpassed. (Though heavily influenced by our European brothers, American cuisine and culture has risen–and in some cases exceeded–our forebears. Not to mention the favoritism and bias.)
Through it all, what stood out to me the most when I first went to Europe was being very confused by people paying at the table, signing at the table, and wrapping everything up at the table, on the spot. That felt different. That was different. And since my first plate of trippa and glass of grappa, I remain confused as to why the pay-at-the-table model hasn’t been brought here.
This European staple–the waiter bringing a terminal to the table so diners can pay and sign immediately–has never really caught on in the US. The New York Times wrote an article about restaurants beginning to adopt a pay-at-the-table system for settling the bill. In 2007. Whether it’s the desire for privacy when tipping (tip is included in Europe) or our choice to adopt the chip and signature approach when implementing EMV (Europe does chip and PIN), US restaurants refuse to adopt this time-saving, simplified way of settling the dinner bills. And Americans–for all our European fetishization–are fine with the status quo.
That may change though. Square seems eager to adopt the European practice. Or at least they see the business advantage of innovating. This October, the merchant services company announced Square Terminal, a portable payment processor equipped with chip reader, receipt printer, touch screen, and WiFi connection. The all-in-one system takes Square’s current products to the next level, seamlessly integrating all the functions into a sleek and portable device that moves alongside you and your business.
The Square Terminal offers a dramatic opportunity for reinvention, not just for restaurants, but for businesses everywhere. Beyond the functional benefits of centralizing all payments in one device and being backed by a reputable and recognizable company like Square, the Square Terminal adds an experiential element for shoppers. With the cultural and marketing emphasis on personalized shopping–favoring DNVBs–retailers are under increasing pressure to cater and customize their in-store experience to shoppers who could just as easily–and in many cases, would prefer to–buy online. The death of retail may be over-exaggerated, but it will take a Nike-type overhaul for companies to compete sustainably in the future, something many small businesses just can’t do. Adopting products like Square Terminal may be an easy and effective method to stave of the retail-apocalypse while integrating some of the subtle practices that make online shopping so appealing.
Think of the last time you were in an Apple Store? You walked in and someone greeted you. The device you wanted was within arms reach. A salesperson brought you your purchase and let you pay where you stood. This hyper-attentive experience allows you to focus on the most important buying decision (i.e. iPhone X vs. iPhone XxX?) rather than the minutiae of searching, pacing, and thinking. While the average small business doesn’t have the resources to pull off the shopping experience of an Apple Store nor the research division to study and facilitate such a fluid journey, integrating devices like the Square Terminal take a step towards centralizing the buying process around the customer, rather than making them do the heavy lifting. In essence, the shopping journey begins and ends with the buyer, since every step–including the payment step–is now being brought to them.
Adopting the Square Terminal may not irrevocably change buying habits or instigate sweeping, noticeably changes, but it seems like an easy, sleek step for retailers and restaurants to alter perceptions and experiences in subtle, sub-conscious ways. Given the opportunity to appear more European, it would seem like a no-brainer. Everything seems to be going very smoothly over there.
Square Terminal’s product video is also noteworthy. It’s straightforward and informative, but still cheeky and tonal.