Square mobile payment’s COO Keith Rabois has decided to leave Sillicon Valley based firm. The news comes as a surprise considering the former PayPal executive’s prominence during a time of intense competition within the market.
Although future plans for Rabois remain unclear Square has yet to explain the reasons behind his departure amidst speculation of disagreements and tension with company founder Dorsey.
Square has enjoyed huge success in the mobile payments space. Rabois joined when the outfit counted just 1000 active merchants in 2010. Today, Square processes over USD10bn annually with 500 employed staff.
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.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.