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Square Doubles Users Accepting Credit Cards To 2 Million In Six Months. Apple Passbook?

Square Doubles Users Accepting Credit Cards To 2 Million In Six Months

What Passbook? San Francisco’s Square says it now has 2 million people and businesses accepting credit cards with the service. That’s up from the 1 million figure it cited all throughout the past year. The volume of transactions the company processes is also up to about $6 billion per year, as the company announced earlier this week when it hired former Salesforce senior vice president Sarah Friar as a new chief financial officer. These announcements might help the company keep up visible momentum as it continues a fundraising process. The company’s card reader is that dongle that plugs into iPhones, iPads and Android devices.

Apple launched what seems like a competing product this week at its Worldwide Developer Conference called Passbook. Apple’s Passbook more deeply integrates some of this functionality directly into the operating system, which means that Square may have to adapt. Square Debuts Monthly Pricing Option For Small Businesses With Zero Swiping Fees. On the heels of announcing a mega-deal with Starbucks, mobile payments processing company Square is announcing another piece of key news—specialized, lower pricing per swipe for small businesses.

Square Debuts Monthly Pricing Option For Small Businesses With Zero Swiping Fees

Basically, Square is going to offer small businesses who make less than $250,000 per year the option of either paying the set 2.75 percent per swipe or one fixed price per month, at $275 per month, with no charge per swipe. So either small businesses can pay the fixed fee, which all merchants pay using Square, or they can pay a monthly fee for any transactions that fall under $250,000 per year.

With $250,000 in transactions, paying $275 per month works out to around 1.3 percent per transaction, which is significantly lower than the current rate of 2.75 percent. If a business goes over $250,000 (and had opted into the monthly swipe fee) then the first dollar after will be charged the standard 2.75 percent rate, and so on. Last year, the company dropped its new user limits.

Targeting Merchants, Square Debuts Register iPad App And Analytics; Now Processing $4B In Payments Per Year. As we reported earlier this year, mobile payments company Square revealed that it was planning to add a number of new operational capabilities and data analysis to the register, including in-depth analytics.

Targeting Merchants, Square Debuts Register iPad App And Analytics; Now Processing $4B In Payments Per Year

Tonight, Square is debuting this functionality in the form of a new iPad app. The app aims to replicate the actual experience of a register, similar to Square’s existing iPad app. But this new, free app, called Square Register, comes as a more full-fledged point of sale offering. You can access the app here. The app has a completely new UI, and a better integration with Card Case, which is Square’s consumer-facing loyalty, payments and merchant-discovery app.

Basically, the new app’s UI has been reconfigured so that it’s a perfect fit for brick and mortar businesses, whether they have 10 items or 10,000. The new app and Square also features in-depth analytics, allowing merchants to segment consumer payments data and transactions. 2011 proved to be an eventful one for Square. Square Processing $2B In Payments Per Year, Has Signed Up 800K Merchants. Disruptive mobile payments company Square is making a number of announcements today relating to growth and new user features.

Square Processing $2B In Payments Per Year, Has Signed Up 800K Merchants

First, the company is dropping its new user limits. For background, Square offers an iPhone, Android and iPad app which allows merchants to process and manage credit card transactions with a handy little credit card swiping device that plugs into the headset/microphone jack. The device and service is the brainchild of Twitter co-founder Jack Dorsey and Jim McKelvey. Jack Dorsey Shares Some Big Square Numbers: 341,688 Readers Shipped, $137M Total Flow. Square founder and CEO Jack Dorsey just tweeted a photo of the company’s internal dashboard, and, aside from looking very sexy, it’s boasting some impressive numbers.

Jack Dorsey Shares Some Big Square Numbers: 341,688 Readers Shipped, $137M Total Flow

Among them: Square has shipped 341,688 of its card readers to date and has 332,483 activated users. As Dorsey’s tweet points out, Square is also showing some very impressive growth: on March 2, Square was processing $1 million per day. Now, less than two months later, it’s doubled that, with $2 million in processed payments today alone (and there’s still some time left on the clock). Other stats on the dashboard: Square’s total flow to date, which I believe means the total amount of transactions it’s done, is just shy of $137 million. Square (company): How many merchants use Square. Square Will Process $8 Million In Payments Per Day By The Fall. Square Now Processing $4 Million In Mobile Payments Per Day. Square Now Processing $1 Million In Mobile Payments Per Day. Mobile payments startup Square has reached a new milestone this week—the company is now processing $1 million in payments per day, co-founder Jack Dorsey just Tweeted.

Square Now Processing $1 Million In Mobile Payments Per Day

Square was processing a few million in mobile transactions per week as of last fall, so the startup has seen a steady increase in transactions over the past four months. The startup just raised $27.5 million in new funding, and is gaining a lot of a lot of buzz, most recently debuting a fairly large billboard in Times Square. And last week, Square announced that it is dropping the $0.15 per transaction charge for businesses using the mobile payments service. COO Keith Rabois told us in January that the startup is expected to process $40 million in transactions in Q1 of 2011 and is currently signing up 100,000 merchants per month. That’s compared to 30,000 monthly signups last Fall. Fun fact—Square’s technology was also showcased by Apple at today’s iPad 2 event.