It isn’t quite New Year’s Eve yet, but the executives at Square may already be reaching for the celebratory bubbly.
On Thursday it was revealed that mobile payment platform Square has reached a major milestone. More than one million merchants across the United States now accept payment (via credit and debit cards) through Square’s hugely popular mobile payment app.
Let’s put that number into perspective.
There are roughly eight million merchants in the United States that presently accept credit cards. Despite still being a start-up, Square already reaches 1 out of every 8.
“Just as small businesses are growing with Square, we’re growing with them: Over 1 million merchants now accept credit cards via Square,” the folks at Square tweeted this morning.
Just last October, Square had all but 800,000 merchant partners. The rapid autumn growth has made for a strong conclusion to the biggest year yet for Square and the mobile payments industry at large.