Square moves international – Canada first, who is next? Square now worth $3.25B!
Square has taken its first step outside of the U.S. for its mobile payment service: it is now live in Canada. The company said today that its mobile card reader/processor is now available nationwide, priced at the same rate as in its home market: 2.75% per swipe. In the U.S. there are now 2 million businesses using Square’s system, making a total of $8 billion in annualized payments.
This is a sign that the company has come good on its promise that it would start to make its first international moves by the end of this year — a commitment that it made when it announced its latest round of funding, a Series D of $200 million, in September. That investment reportedly valued the company at $3.25 billion.
Canada is an easy and obvious move for the company. The physical proximity of the country makes it potentially easier on…
View original post 785 more words