Square and Twitter founder Jack Dorsey has confirmed that Square has processed 1 billion payments since it was founded in 2009. Square also just recently secured USD 150 million in funding. The company has raised a total of USD 590 million to date.
Square started with a simple card-swipe device that could be tacked onto a mobile phone or tablet, enabling small businesses wary of the costs associated with payment terminals to accept credit cards. Since then, the company has expanded into a provider of small business software with tools like its register platform, appointments app, analytics and inventory MANAGEMENT apps. Square has also branched out into small-business lending with Square Capital, and it has kept a hand in consumer products with its peer-to-peer payment app, Square Cash, as well as its order-in-advance restaurant app, Square Order.
In recent news, Square Cash, the payments company’s mobile money app, has rolled out an update that enables users to send cash via Bluetooth Low Energy (BLE).
