MacNN | Square reaches $10 billion payment processing milestone
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Square reaches $10 billion payment processing milestone
Thursday, November 15, 2012 @ 6:19am

Mobile payments system Square has reached a total of $10 billion in payments for the year. The company has increased its rate of payments from $5 billion in the sprint, and is up from the $8 billion figure two months ago. At this time last year, Square was passing just $2 billion in payments per year.



The sudden rise in transactions through Square could be attributed to its recent TV advertising campaign, along with the increased use of mobile devices capable of using the Square reader. The news of Starbucks using the Square Wallet technology in 7,000 stores certainly would have helped, though according to details provided to TechCrunch, Starbucks transactions were not included in the $10 billion total. The passing of the milestone was announced in an update on Twitter, where the company thanked the growing number of small businesses using the service. Jack Dorsey, founder of Square, also co-founded the microblogging site. After raising more than $200 million in a recent round of funding, the company is estimated to be worth around $3.25 billion.

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Today's MacNN Stories:

  • Virginia judge rules police can unlock smartphones with fingerprints - 6:06 PM EST
  • Giveaway: Trick or Treat! Win one of 10 "Haunted" app codes! - 5:53 PM EST
  • Giveaway: Trick or Treat! Win a trip to space on Mars One - 5:42 PM EST
  • Giveaway: Win a 808 Audio Hex SL Bluetooth speaker! - 4:40 PM EST
  • Friday Deals: 65-inch LG 4K TV, Steam Halloween sale, more - 4:21 PM EST
  • Giveaway: come trick or treating with MacNN and Electronista all day! - 4:00 PM EST
  • Briefly: Camera+ app for free, Mercury On-the-Go Pro drive 2TB option - 3:50 PM EST
  • Giveaway: Trick or Treat! Win 1 of 2 Marshall cell phone cases! - 3:49 PM EST
  • Trent Reznor 'fully in it' on unannounced Apple/Beats project - 3:41 PM EST
  • Giveaway: Trick or Treat! Win 1 of 13 codes for A Haunted Halloween! - 3:10 PM EST
  • Forums: new Mini mysteries - 2:42 PM EST
  • Apple Deals: refurbished rMBPs from July 2014 - 2:32 PM EST
  • DealNN: Mac Pro, iMac, printers and more - 2:31 PM EST
  • Apple Watch a tougher project than iPhone, says Jonathan Ive - 1:51 PM EST
  • Apple publishes open-source code for OS X Yosemite - 12:18 PM EST
  • Briefly: new Chrome bookmark manager, GrooveMaker 2, DJ Rig updates - 11:58 AM EST
  • Outlook for Mac gets revamp, MS lays out Office for Mac roadmap - 11:07 AM EST
  • New Apple Store to open in Lille, France in November - 10:01 AM EST
  • Apple adds 15-inch 2014 Retina MacBook Pros to refurb store - 2:59 AM EST
  • Giveaway: Trick or Treat! Win a box full of new Mac Pro computers! - 2:37 AM EST
  • Review: Tablo DVR - 2:00 AM EST
  • Hands On: Organ Trail Director's Cut (iOS and Android) - 1:23 AM EST

    Today's iPodNN Stories:
  • Amazon executive blames bad pricing for lacking Fire Phone sales - 1:59 PM EST
  • Spanish government orders Google to pay publishers for news story use - 12:18 PM EST
  • Briefly: Razer Naga Epic Chroma, UK gains 1,000 free Wi-Fi hotspots - 11:03 AM EST
  • Hungarian prime minister backs down from Internet tax proposals - 8:09 AM EST
  • Samsung Galaxy A5, A3 introduced with metal unibody design - 7:02 AM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.