Square is letting business owners get more AI insight into their neighborhoods - and even accept Bitcoin

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Square will let retailers use AI to get in-depth local insights

Square Neighborhoods
(Image credit: Square)
  • Square AI will integrate with local data to give businesses detailed insights
  • An AI voice assistant can also take orders over the phone
  • Bitcoin payments will be free in most US states until 2027

Square has revealed a host of AI upgrades designed to give businesses access to even more intelligence and insights in a bid to show unlocking additional context can bring huge value to SMBs.

Square AI will now support local data integration, including weather, events, news and reviews, helping companies to adapt with forecast-driven staffing, inventory and menu adjustments.

The company is also enhancing conversation history so that companies can check back on past insights and adapt them for the future.

Square’s AI is getting even more useful

With resources already spread thinly across multiple operations and many hospitality businesses struggling to barely stay afloat, let alone focus on their customers, new AI-powered voice ordering will answer every call with conversational AI to handle orders, sending them straight to the kitchen or POS and logging details within Square Messages.

“Square Dashboard has always been rich with data, but the reality is that digging through reports and extracting valuable insights takes time that many sellers just don’t have,” Global Head of Product Willem Ave explained.

With that in mind, an updated dashboard allows sellers to pin and save AI-generated data visualizations and widgets for easily glanceable insights. Square’s AI will also extend to the mobile app.

The handy AI improvements came hand-in-hand with newly launched support for Bitcoin payments and conversions for sellers, with zero processing fees for the first year for bitcoin payments at POS systems. From January 1, 2027, each transaction will cost a 1% processing fee.

It includes support to manage, buy, sell, hold and withdraw bitcoin all within Square’s ecosystem.

This comes as US cryptocurrency payment users are expected to grow by 82% between 2024 and 2026. For now, Bitcoin support is only available for US businesses, excluding those located within New York State.

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Craig Hale
Craig Hale

With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!

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