Square Expands Into Japan, Loses Two Key Execs

What's Next In Payments®
6:12 AM EDT May 23rd, 2013

Square has made its first expansion outside of the North American market, announcing its availability in Japan early this morning.

Japanese businesses can download the Square Register app for free or receive a free Square Reader and accept payments with a transaction rate of 3.25 percent per swipe.

“I am honored to introduce Square to a country with a rich history of design, innovation and tradition. Square shares the same values and attention to detail in our products. Our tools are made to enable business owners to create a delightful, seamless experience for their customers,” said Jack Dorsey, Square CEO and cofounder. “I look forward to Square assisting in Japan’s continued economic growth and entrepreneurship opportunities.”

In unrelated news, All Things D reports that two key Square executives – Alex Petrov and Alyssa Cutright – have left the company. A former PayPal exec, Petrov was hired by Square three weeks ago as its new VP of partnerships, but apparently never actually started working for the company. Cutright was Square’s VP of international and helped the country expand into Canada. All Things D notes that Cutright actually left Square in March.

Read the full story here.

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