US-based mobile payment service Square, which enables payments to be taken via a plug-in card reader for mobile phones, says over two million individuals and businesses are now able to accept credit cards and debit cards using its app. A million people started using Square within a year of launch, with another million joining during the following six months.
The company currently processes over $6 billion in payments per year.
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We’ve previously reported on the launch of Square in the USA and iZettle in Sweden. Now eCommerce platform Powa has announced mPowa, a combination of plug-in card reader and mobile app.
It means that almost anyone in the UK with a compatible smartphone will be able to take credit card and debit card payments, either when visiting customers or in their own premises.
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Mark Bridge writes:
Flash is dead, HTML5 is the future. Okay, the next stage in the evolution of the mobile browser isn’t that clear – but a restructure at Adobe has pretty much marked the end of mobile Flash development.
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Sir Richard Branson has been announced as one of the new investors in Square Inc, although neither party has revealed the amount of investment involved.
The mobile payment company, which launched a year ago, has supplied over 800,000 card readers to merchants and is currently processing over $2 billion in payments annually.
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US-based mobile payment service Square, which lets retailers use an Apple or Android device to accept credit card payments, has just raised $100 million in new funding.
It's also announced that technology analyst Mary Meeker is joining the board.
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