Payments News

On The Web

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Companies

Square Raises Its Price for Instant and Same-Day Transfers to 1.5%

“In its latest pricing change, Square Inc. disclosed Tuesday that it will raise the cost of instant and same-day transfers from its merchants’ Square balances to their bank accounts to 1.5% per transfer from the previous rate of 1%. The change, announced on Square’s blog, took effect Tuesday for new users of the transfer service […]
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Companies

Square’s Cleanup Still Leaves Questions

“Fast transaction growth isn’t everything to Square, which is generating increasing revenue from lending, subscription services and its consumer Cash App. But like many payments businesses, the company’s take rate, or how much of each transaction it takes as revenue, is gently declining, due in part to doing business with larger merchants that drive tougher […]
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Companies

Square Keeps Rolling Along

“So the onus was on Square to show that growth wouldn’t again slip. And in the fourth quarter, as the company reported Wednesday after the close, it delivered. Year-over-year gross payment volume growth was 25%, the same as in the third quarter. This was despite the pricing changes implemented last fall that, on the whole, raised […]
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Companies

Square Gets Conditional Approval for Industrial Loan Charter

“Square Inc. announced late Wednesday that it had received conditional approval from the Federal Deposit Insurance Corporation to conduct deposit insurance related to an Industrial Loan Company (ILC) banking charter. The company also received approval from the Utah Department of Financial Institutions for this purpose. The approval grants Square the ability to operate a bank, […]
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Companies

PayPal, Intuit & Square approved to offer loans to small businesses through coronavirus relief program

“Fintech companies have been lobbying for weeks to be able to participate in the U.S. government’s emergency lending program for small businesses. Now those efforts have paid off, as PayPal, Intuit and Square have all been approved to participate in the U.S. Small Business Administration’s (SBA) Paycheck Protection Program , which provides aid in the form […]
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Companies

Jack Dorsey creates $1B COVID-19 relief fund using Square equity

“Jack Dorsey announced in a series of tweets today that he is shifting $1 billion in his Square equity to create a fund dedicated to COVID-19 relief. The Twitter and Square CEO is calling the fund Start Small and posting a tally of disbursements and recipients in a public spreadsheet. Dorsey said in his announcement […]
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Companies

Square Unveils Bitcoin Auto Payments Tool

“Dorsey said on Twitter – that other company he runs – that Cash App had, from Monday, enabled automatic purchases of bitcoin at regular intervals, such as daily, weekly or fortnightly. Although there’s a minimum $10 purchase, the new feature provides users with the ability to gradually gain exposure to the original cryptocurrency without exposing […]

On The Wires

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Companies

How to Get Paid With Square Online Checkout

“That’s why we’re introducing Square Online Checkout, an online checkout link or button that allows you to accept payments without having to build an online store. Square Online Checkout quickly generates a checkout link or button for any of your goods, services, memberships, and more. Whether it’s your first product or your newest offering, you […]