Square Processing $4 Million in Mobile Payments Daily

Electronic payment service provider Square has announced that it is dealing with $4 million mobile payments every day in the United States of America.

According to Tech Crunch, San Francisco, California-based Square Inc. has managed to make a one million dollar jump as the company posted $4 million in mobile payments each day when compared to $3 million by the end of May.

The company which was founded only ten months ago by Jack Dorsey, who also founded leading micro blogging website Twitter started with hardly a million mobile payments per week during the first month of its launch.

“After passing the $3 million mark at the end of May, Square is now processing $4 million in mobile payments daily, and is on track to reach over $100 million in transactions in July.” Tech Crunch has quoted.

The chief operating officer at Square, Keith Rabois has informed that the company is floating ahead with a target to double its volume, that is, from $4 million in payments to $8 million in payments each day by the end of October, this year.

Rabois also added that the company is gearing to go international as early as possible and has planned to launch its service outside the US sometime next year.