Square is now Processing $2B In Payments Per Year, Has Signed Up 800K Merchants
Disruptive mobile payments company Square is making a number of announcements today relating to growth and new user features. First, the company is dropping its new user limits.
For background, Square offers an iPhone, Android and iPad appwhich allows merchants to process and manage credit card transactions with a handy little credit card swiping device that plugs into the headset/microphone jack. The device and service is the brainchild of Twitter co-founder Jack Dorsey and Jim McKelvey. In May, the company debuted a new service to replace the cash register and loyalty card, and in June, Square raised a $100 million in funding, which valued the company above $1 billion.
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