Square Reveals Annual Processing Volume ― Up 25% Since March

What's Next In Payments®
4:41 PM EDT April 25th, 2012

Square is processing payments at an annualized rate of $5 billion, a new report from Bloomberg says.

Square Chief Operating Officer Keith Rabois told Bloomberg’s Danielle Kucera that April’s $5 billion annualized rate is up 25 percent from a month ago.

More than 1 million merchants accept payment using Square, the report says.

Square also tells Bloomberg that it is making a new timing commitment to its merchant partners: the company says funds processed before 5 p.m. will be made available to merchants by the morning of the next business day.

Read the full story here.

Comments
Also by This Author
What's Hot
B2B Payments
Kenya Launches Online eProcurement System
B2B Payments
National City Bank, PNC Sued For $80,000 In P-card Rebates
B2B Payments
Healthcare Payment Firm Introduces New Payment Platform
B2B Payments
New ERP Software Provides Metals Specialist With Enhanced Billing Efficiency
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
Kenya Launches Online eProcurement System
B2B Payments
National City Bank, PNC Sued For $80,000 In P-card Rebates
B2B Payments
Healthcare Payment Firm Introduces New Payment Platform
B2B Payments
Why Are UK SMEs Tolerating Non-Payment?
View All Articles ››