Square Reveals Annual Processing Volume ― Up 25% Since March

What's Next In Payments®
4:41 PM EST 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.

Also by This Author
What's Hot
Hackers Cracked Into Natural Grocers’ Registers
Mobile Commerce
Ingenico Launches NFC mPOS Solution
Mobile Commerce
US Bank Joins List Of Samsung Pay Backers
Merchant Innovation
Visa Partnerships Bring In-Car Purchase Experience
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
Madison Logic Buys B2B Ad Network
B2B Payments
Cash Flow Management for the 21st Century
B2B Payments
When The B2C E-Commerce Business Model Meets B2B Demand
B2B Payments
CDFI Network Targets Women, Minorities for SME Loans
View All Articles ››