Payments company Square launches in the UK

Wednesday 29 March 2017 | 09:36 CET | News
Mobile card reader and payment processing company Square said it has launched in the UK, the company's fifth market.

The company is charging UK business owners GBP 39 for its card reader and transaction fees of 1.75 percent for in-person purchases and 2.2 percent for those made online, by phone or via electronic invoice.

Square, already present in Canada, Japan, Australia and the US, is run by Jack Dorsey, co-founder of Twitter.

The company completed an IPO in 2015 and in the first quarter of 2016 had net revenue of USD 379 million, up 51 percent from a year earlier.

In the UK, Square said it will target independents and SMEs, especially those not yet accepting card payments.

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