Payments News

On The Web

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Companies

Square unveils new debit card for small-business customers

“With the Square Card, which is free to obtain and use, business owners will be able to spend their Square balances immediately in stores and online. Previously, those who used Square for payment processing had to wait several days for their funds to transfer to their banks accounts, or else they could pay a small […]
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Companies

Square Reports Q1 Sales of $489M, up 59%, but Net Loss Widens to $38M

“Square continued to grow business operations like Square Cash — its instant money transfer service — and its core payments business (subscription and services revenue). The latter was up 126% to $219 million, led by growth of the Square Cash app, Caviar, Square Capital and Instant Deposit for sellers. Square noted that in the first quarter of […]
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Companies

Square Posts Strong Growth for Cash App, Its Entry in the Hot P2P Payments Market

“Square Inc. is rapidly growing into a heavyweight player in the hard-fought market for peer-to-peer payments. The San Francisco-based company had 15 million active users in December for its P2P product, Cash App, a number that doubled from December 2017, the San Francisco-based company disclosed on Wednesday. That’s still well behind the 100 million consumers using […]
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Companies

Square Revives Request to Start a Bank

“Acquiring a banking license would allow Square to plug into the pipes of the financial system without having to go through banks and other intermediaries. It would also send a signal that regulators are open to giving Silicon Valley firms access to privileges previously unavailable to them, such as deposit insurance.”
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Companies

Square sold more than $166M worth of bitcoin in 2018

“Last year, the firm enabled bitcoin buys and sells on its Cash App platform, a rival to PayPal’s Venmo. Still, despite Dorsey’s bullish stance on bitcoin — the billionaire has said bitcoin could be the future of money — Square does not hold that much bitcoin on its own balance sheet, but did however make approximately […]
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Companies

Square leases all of downtown Oakland’s Uptown Station offices

“Square said Thursday it has leased the iconic Uptown Station complex in downtown Oakland, marking a major boost for the East Bay city and a deal that will bring hundreds of the tech company’s workers to the city. The maker of mobile payments technologies and systems, whose chief executive officer is the co-founder of Twitter, said […]

On The Wires

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Companies

Invoice2go Partners With Square Capital to Deliver Mobile Access to Business Loans, Helping Small Business Owners Grow

“Invoice2go and Square Capital today announced a partnership that gives Invoice2go customers in the United States a fast, seamless way to access the funding they need to grow their business – from right inside their Invoice2go mobile app. This partnership is the first time Square Capital, the small business loan program created by financial and technology company […]