Mobile Payments Processor Square Reaches New Transaction Milestone

Only three short months ago, Square – the mobile payments start-up launched by the co-founder of Twitter – announced with pride that it was processing a whopping $3 million a day in mobile payments. What a difference 90 days can make. Square has announced that it’s growth has not only continued, it has effectively surged …   Read More

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Only three short months ago, Square – the mobile payments start-up launched by the co-founder of Twitter – announced with pride that it was processing a whopping $3 million a day in mobile payments.

What a difference 90 days can make.

Square has announced that it’s growth has not only continued, it has effectively surged during the summer.

The company is now processing $4 million a day and, according to the company’s executive leadership, it will surpass the key $100 million threshold in total transactions within a matter of days.

During the past twelve months, Square has shipped approximately 500,000 credit card readers. Helping fuel the company’s growth is the fact that Square devices are now sold in the ubiquitous Apple Stores.

From Tech Crunch:

And iPad usage of Square is on the rise, especially after the company launched a disruptive new iPad app to replace cash registers and loyalty cards. The breakdown in terms of usage are iPad (21%), iPhone (45%), iPod (3%) and Android (31%).

Armed with $100 million in recent funding, the future for Square looks very, very bright.

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1 comment

  1. Antje Cobbett

    I just subscribed yesterday to Mobile Marketing Watch, what a great site! Here in Europe I hadn’t heard about Square mobile payments yet, but will look it up immediately now. Thanks for sharing!

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