Monday, October 06, 2014

Square Raises $150 Million at a $6 Billion Valuation -

Interesting times for Square; in other payment-related news, see Hacked Screenshots Show Friend-To-Friend Payments Feature Hidden In Facebook Messenger (TechCrunch)

"The move comes amid a time of great tumult in the payments industry. Apple, the consumer technology giant, introduced its new commerce product, Apple Pay, along with its new smartphones, the iPhone 6 and 6 Plus. Ebay announced that it would spin off PayPal, the company’s big payments business. And in August, Amazon introduced its own version of a credit card reader, which has a low processing fee rate to lure new merchants.

These companies and their assorted products compete with Square in some form or another. And compared to Square, all of them have far more access to money to back their efforts."
Square Raises $150 Million at a $6 Billion Valuation -
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