Square hits its magic number: 1 billion credit card payments processed

Gigaom

Jack Dorsey had something to be proud of when he took to Twitter this afternoon. Square processed it 1 billionth card transaction on Wednesday. The honor goes to a merchant in Sacramento, CA, according to Dorsey’s tweet.

One billion is certainly a milestone after only five years in business, but in the grand scheme of the financial industry it’s still pretty small potatoes. In comparison, PayPal processes nearly 10 million transactions a day, meaning its handling Square’s entire historical volume at least three times a year.

But Dorsey would probably be the first to tell you Square is just getting started. It’s expanding from the small mobile business owner to larger brick-and-mortar retail locations from multi-register stores to restaurants

View original post 65 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s