Why Square Acquired Food Delivery Service Caviar

In addition to betting big on the upcoming change in credit card tech, mobile payment pioneer Square is also wagering millions of dollars, literally, on the food delivery services that are booming on mobile. The company has announced its acquisition of Caviar, a curated food delivery platform, reportedly for $90 million in stock. Caviar aims to set itself apart from other standard delivery apps by enabling ordering from restaurants that normally don’t offer delivery service. As on-the-go payment continues to grow, tapping into different sections of the consumer market is crucial to the development of Square, and incorporating mobile food ordering into its payment system is most likely just the first step.