That was fast. Just like that Square passed $3 million in transactions processed, on a Saturday no less, according to a Tweet an hour ago by CEO Jack Dorsey.
The mobile payments startup is seeing an acceleration in transaction volume. It took about 10 months from its public launch for Square to reach $1 million a day in payments going through its mobile app. Getting to $2 million a day only took about two months. And now, less than a month later, it is passing $3 million.
Visa just invested, transaction volume is picking up—things are looking good for Square. COO Keith Rabois will be at Disrupt NYC. We’ll be sure to ask him what’s driving the surge in Square payments.
Boom. @Square processed over $3 million today so far. Big weekend going into a bigger week. http://instagr.am/p/EjYzY/—
Jack Dorsey (@jack) May 22, 2011
Square is making commerce easy for everyone. Starting with a free credit card reader for the iPhone, iPad, and Android devices, Square Reader allows anyone to accept credit cards anywhere, anytime, for a low transaction rate of 2.75 percent per swipe, with no hidden fees. Square Register serves as a full point-of-sale system for businesses to accept payments, manage items, and share menu and location information. Square Wallet, available in the US, is the most seamless way to pay,...
Jack Dorsey is the creator, co-founder, and Chairman of Twitter, Inc. Originally from St. Louis, Jack’s early fascination for mass-transit and how cities function led him to Manhattan and programming real-time messaging systems for couriers, taxis, and emergency vehicles. Throughout this work, Jack witnessed thousands of workers in the field constantly updating where they were and what they were doing; Twitter is a constrained simplification designed for general usage and extended by the millions of people who make it...
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