Over two million individuals and businesses are now able to accept credit and debit card payments with Square (view press release.) In its first year of availability, one million individuals adopted the Square credit card reader as a solution for taking card payments. In 6 months, Square has doubled to two million users and processes around USD6 billion in payments a year.
Square’s card reader plugs into the headphone jack of an iPhone, iPad or Android device and allows credit card payments through free, downloadable Square Card Reader and Square Register apps at a rate of 2.75% per swipe. Square merchants have access to their funds the next business day.
Judges have picked Clever as the overall winner of the Money 20/20 Hackathon 2016 taking place in Las Vegas.
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.