Square sees increase in payment volume

Friday 27 April 2012 | 13:17 CET | News
Square has increased its payment volume by 25 percent since March, writes Bloomberg citing COO Keith Rabois. Founded in 2009, Square is processing transactions at an annualised rate of USD 5 billion, up from USD 4 billion in March, as more consumers embrace mobile payments, Rabois said in an interview. Square's smartphone readers enable US merchants to accept payments in any location. The company is making cash from sales before 17:00 hrs on any day available in merchants' accounts on the next business day, which is faster than its competition. Square declines to say the ways in which it

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Categories: Mobile & Wireless
Companies: Apple / Ebay / Google / MasterCard / PayPal / Square
Countries: United States
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