Square wins Steak Escape deal for 23 venues as claims rise to 210,000
Square has been selected by Steak Escape to upgrade point-of-sale systems at 23 locations, expanding its hardware and software footprint. US jobless aid claims rose by 5,000 to 210,000 last week, reflecting a softening labor market that could affect consumer spending and small-business investment.
1. Steak Escape selects Square for 23 locations
Steak Escape has chosen Square to modernize its point-of-sale infrastructure across 23 restaurant locations, deploying new card readers, terminals and integrated payment software. This agreement enhances Square’s recurring revenue streams through hardware sales, software subscriptions and potential add-on services like payroll and inventory management.
2. Weekly US jobless claims edge higher
Applications for US unemployment benefits increased by 5,000 to 210,000 for the week ending March 21, remaining within a historically healthy range but signaling a slight uptick in layoffs. A softer labor market could weigh on consumer spending and small-business investment, potentially moderating transaction volumes processed by Square.