Square Now Processing $4 Million a Day in Mobile Payments
It was only the end of May when Square, the mobile payment startup that could, announced it was processing a staggering $3 million a day in payments. The company is now processing $4 million a day and on track to surpass the $100 million mark in total transactions during the month of July.
Square, started by Twitter founder Jack Dorsey, was recently valued at nearly $1 billion after a round of very lucrative ($100 million) funding. It helps that the company's card readers are now sold in every Apple store (with a $10 credit) and still available for free online. It has helped to the tune of 500,000 card readers being shipped so far and with more than a million transactions processed per month. Which only equates to like 2 transactions per person, but a lot of people probably just signed up online cause it was free.
Anyway, it appears Square is here to stay. Or here to move around and take your money.