Square Is Processing $4 Million In Mobile Payments Per Day

Posted Aug 2, 2011

Mobile payments company Square recently raised $100 million in a new round of funding. The company has now reached $4 million in mobile payments made per day. This puts the company on track to hitting $100 million in monthly transactions starting this July.

International expansion is part of the company’s next phase of growth. The company hopes to launch payment capabilities outside of the U.S. by 2012. Square usage on the iPad is growing increasingly. Square has shipped over 500,000 credit card readers thus far, many of them being sold in Apple retail stores.