Square Hits $10 Billion in Annualized Processing Volume
Nov. 16, 2012
San Francisco-based mobile payments processor Square has had a busy second half of 2012. The company, which has become the poster child of the increasingly crowded mobile-card-acceptance space, secured a $200 million funding round in July, landed a deal to process all credit card payments at Starbucks in August and made its first international foray —into Canada—in October. The company has been keeping track of the value, on an annualized basis, of all the payments it is processing and, nearing the end of the year, has once again revised the total upwards.
The company this week tweeted out that it is processing $10 billion in payments on an annualized basis. This is up from the $6 billion it reported in June . Square called the milestone “amazing and humbling.”