Square Sets Another Mobile Payment Processing Milestone

Another day, another milestone for Square.

On the heels of the company’s most recently announced new projects and ventures in the retail arena, Square is also revealing some new information about the remarkable growth of the company.

Based on this week’s latest revelation, Square is now processing $10 billion in annual mobile payment transactions. If you’re keeping score at home, that’s an increase by almost $2 billion just since September.

One year ago, that figure was just $2 billion annually.

Incredibly, the freshly confirmed annual payment processing numbers do not yet include the additional growth expected from Square’s new deal with Starbucks that MMW has covered since late summer.

“Square began with a really simple idea: everyone should be able to accept credit cards,” Square founder Jack Dorsey said in August. “It should be easy and free to get set up, it should use simple technology people already own, and, most importantly, it should instantly adapt to any size business—from the person chasing a dream to the largest organization on the planet. By embracing Square, Starbucks has validated these ideas as powerful tools—not just for small businesses, but for smart businesses.”