Square Partners With SAP: What Investors Need to Know

In Square Inc.'s (NYSE: SQ) second-quarter conference call, CEO Jack Dorsey promised that the company was constantly looking for ways it could "accelerate and deepen" its offerings to its customers. One of the ways the company has recently focused on in order to accomplish this goal is to embed its payment processing into existing business software platforms through partnerships. Earlier this quarter, Square partnered with Eventbrite, the popular live event-planning platform. More recently, Square announced another partnership, this time with SAP SE (NYSE: SAP), the German-based enterprise application software provider.

Under the terms of the deal, announced on Square's corporate blog, Square's payment processing and financial services will now be integrated with SAP's Business One platform. SAP Business One is a software platform that provides small and medium-sized retailers with a variety of back-office business services, including accounting, project management, and human resources. With the integration of the two companies' services, businesses will now be able to view their sales and payment data with "one holistic view."

The sales page of the combined services also boasts that customers will have access to real-time business data analytics, the capability to manage a business from multiple locations, and, of course, the ability to accept many different types of payments at the point of sale, including Apple Pay and chip cards.

Source: Fool.com