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Square's (SQ) Ecosystem Picked for SoFi & Hollywood Park

Square SQ has been selected for providing its point-of-sale (POS), payments, software, and merchant services to SoFi Stadium and Hollywood Park.

With Square’s ecosystem of services, SoFi will offer secure, reliable and quick contactless payment solutions to customers.

Managers of SoFi will leverage Square’s Integrated Square software solutions such as POS and Team Management to get real-time sales insights, understand trends as well as make decisions that will empower the stadium.

Square for Retail will provide them with business analytic features so that they can get more revenue opportunities at every game or event.

In addition, SoFi Stadium will leverage more than 1,000 Square Register and Square Terminal so that customers can use different payment options according to their preferences.

Further, SoFi will be integrated with various Square APIs like Catalog API, Orders API and Payments API for seamless operations.

Square will also empower Hollywood Park with its payment solutions and various operation abilities.

The latest partnership highlights the efficiency and reliability of the company’s portfolio of solutions. Further, it has added strength to the customer base of Square.

Portfolio – Key Strength

Square has been consistently making efforts to expand offerings for supporting businesses and individual sellers to gain customers online and in person, manage their business as well as access financing.

Apart from SoFi and Hollywood Park, Square has also been selected for YouTube Theater for its robust POS and merchant services. The company has previously empowered many venues and organizations like the Washington Nationals, Ogden Raptors, Speedway Motorsports as well as the Indianapolis Motor Speedway.

Further, Square introduced a suite of financial tools called Square Banking, which offers a range of banking solutions to small business owners.

It also acquired Crew in a bid to bolster workforce management solutions and offer a better team communication platform to business owners.

Additionally, it introduced Automated Clearing House payments on Square Invoices, which is expected to offer efficient payment solutions to both businesses and customers.

It also introduced new features in inventory management for Square for Retail including easy item create, quick inventory counting and smart stock alerts, which are expected to aid retailers in efficient inventory control.

Further, it announced three new developer tools in May, namely Snippets API, Web Payments SDK and Loyalty API. While Snippets API has been developed to help sellers engage customers online in interactive ways, Web Payments SDK and Loyalty API extend the benefits of online selling.

Zacks Rank & Stocks to Consider

Currently, Square carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector include Advanced Micro Devices AMD, Dropbox DBX and ASML Holding ASML, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings growth rates for Advanced Micro Devices, Dropbox, and ASML Holding are currently projected at 44.6%, 40.9%, and 33.5%, respectively.


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