News

Square Tops $100 Million Sales-Day

For the first in its five-year history, Square reported on Wednesday (Dec. 10), it's sellers processed more than $100 million in sales in a single day.  And that day was Friday (Dec. 5).

Just in case anyone cares, the company released some of the stats went into that record-revenue day. That included almost 1.5 million meals (for you payment geeks and foodies out there, it was actually 1,479,387 meals), 430,215 cups of coffee, 202,692 haircuts, 72,601 pieces of apparel, 55,021 cab rides, 25,569 home repair housecalls, 4,445 pairs of shoes (Square actually said it was that many shoes, but we're going to assume they meant pairs. Even if people just wanted to hang 'em over telephone lines, you still need two) and our favorite stat: 648 tattoos. (Square made its own Tattoo quip: "We're not sure how many regrets.")

Square also said, meaningfully, that they reached the $100 million single-day sales figure on its own and that the figure excluded the processing volume revenue it gets from its deal with Starbucks.

"Together, Square sellers would rank as approximately the 13th largest retailer in the country by annual sales, proving the collective power of independent businesses," Square said in its statement. "As these businesses grow, from mobile trucks to corner shops to statewide chains, they’re driving meaningful economic growth in communities throughout the country."

——————————

NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

Click to comment

TRENDING RIGHT NOW