Tagged: square

Italian Mobile Payments Firm Satispay Secures €93 Million from Share Sale to Square, Tencent, Others

Italian mobile payments firm Satispay has secured €93 million (appr. $110.5 million) in capital from a share sale to several different investors which includes payments company Square (NYSE:SQ), tech giant Tencent (HKG: 0700), LGT Lightstone and TIM Ventures. Satispay’s investment round consisted of €68 million… Read More

Payments Platform Square Sold $1.63 Billion in Bitcoin (BTC) via Cash App, Made $32 Million in Gross Profits in Q3 2020

Square (NYSE:SQ), a popular payments platform, confirmed on November 5, 2020, that it had sold around $1.63 billion in Bitcoin (BTC) via its widely-used Cash App during Q3 2020. Square’s management reported gross profits of about $32 million from Bitcoin transactions (for the third quarter… Read More

Square Announces General Availablity of New Developer Tool “Terminal API”

Payments platform Square announced on Thursday the general availability of its newest developer tool, Terminal API. According to Square, the new API enables developers to connect Square Terminal, an all-in-one card payments device, to their POS, ERP, or practice management system, regardless of the platform or… Read More

Digital Wallets are Being Added at an Exponential Rate with PayPal’s Venmo and Square’s Cash App Onboarding Millions of Consumers: Report

Digital or online wallets are adding new users at an exponential rate, according to a recent report from ARK Invest. The report revealed that PayPal’s Venmo and Square’s Cash App have managed to onboard around 60 million users organically in the past 10 and 7… Read More

Square Buys Bitcoin – “We believe that bitcoin has the potential to be a more ubiquitous currency”

Square (NYSE:SQ), a popular payments platform, has purchased 4709 Bitcoin or about $50 million worth in a sign of solid support for the world’s most popular cryptocurrency. In a release, Square said that Bitcoin was an “instrument of economic empowerment and provides a way for… Read More

Square Unveils On-Demand Pay & Instant Payments Feature For Payroll Customers

Payments platform Square announced on Tuesday the launch of two new features, On-Demand Pay for employees, and Instant Payments for employers. The company claims that the features will enable Square Payroll customers and their employees to more easily and effectively manage their cash flow. “The… Read More

Payments Firm Square Reports $875 Million in Bitcoin (BTC) Revenue via Cash App during Q2 2020

Payments company Square (NYSE:SQ) reported on August 4, 2020, that it generated $875 million in Bitcoin (BTC) related revenue through the company’s popular Cash App service during Q2 2020. Overall, Square reported a big beat topping analyst expectations. The jump was driven in part from… Read More

Square Announces Acquisition of Operations Management Platform Stitch Labs

Payments platform Square recently announced it has acquired Stitch Labs, an operations management platform for growing commerce brands. The acquisition comes less than a month after Square acquired Spain-based P2P payments app, Verse.  Founded in 2011, Stitch Labs describes itself as the leading operations management… Read More

Square Announces Acquisition of Spanish P2P Payments App Verse

Payments platform Square announced on Monday it has acquired Spain-based P2P payments app, Verse. Founded in 2015, Verse describes itself as a mobile app that allows users to share payments easily, instantly, and with no hidden fees. “Not only can you pay and receive money… Read More

Payments Company Square’s Cash App Now Lets Users Schedule Automatic Bitcoin (BTC) Purchases at Set Time Intervals

Payments company Square‘s (NYSE:SQ) Cash App now lets users schedule automatic Bitcoin (BTC) purchases at specific times, which includes daily, weekly, or bi-weekly options. Cash App’s new feature is called “Auto Invest,” and seems to be based on the concept of dollar-cost averaging, which involves… Read More

Fintech ETFs Record Significant Gains as Consumers Stay Home and Shop via Digital Commerce Platforms

As US residents continue to stay home, due to lockdowns following the COVID-19 outbreak, many consumers have been purchasing products and services from online merchants (instead of visiting physical store locations). A significant increase in e-commerce activity has led to the adoption of the latest… Read More

Payments Company Square Generated $306 Million in Bitcoin (BTC) Revenue During Q1 2020

Payments company Square (NYSE:SQ) revealed on May 6, 2020 that it generated $306 million in Bitcoin (BTC) revenue during Q1 2020. Square noted in its latest earnings release to investors: “Bitcoin revenue generated gross profit of $7 million in the first quarter of 2020.”  The… Read More

COVID-19 Relief: Payments Giant Square to Add Feature Allowing Users to Directly Access Stimulus Funds from their Cash App Accounts

The US Internal Revenue Service (IRS) confirmed on April 10, 2020 that it would be providing a tool for eligible American citizens and residents who don’t normally submit tax return documents, so that they can get access to government Coronavirus (COVID-19)-related stimulus funds. Soon after… Read More

Coinbase Claims Retail Investors Purchased Large Amounts of Bitcoin (BTC) During Last Month’s Crypto Market Crash

San Francisco-based digital asset exchange Coinbase claims that retail customers purchased Bitcoin (BTC), the flagship cryptocurrency, the most during the March 2020 market crash. As noted in a report from Coinbase (released on March 31, 2020), customers usually purchase about 60% more than they sell…. Read More

COVID-19 Response: Square and Venmo’s Parent PayPal are Talking to US Government About Using their Apps to Deliver Stimulus Payments to Americans

Payments company Square (NYSE:SQ) and Venmo’s parent firm PayPal (NASDAQ:PYPL) are reportedly holding discussions with the US government about potentially using their applications to provide much-needed stimulus payments to American citizens, following the global Coronavirus (COVID-19) outbreak. The new service being proposed by Square and… Read More

Digital Bank: Square Financial Services, Receives FDIC Approval for its Deposit Insurance Application

Square Financial Services, the de novo industrial bank established by payment services firm Square, has received conditional approval from the Federal Deposit Insurance Corporation (FDIC) for its deposit insurance application. The approval gives Square permission to introduce banking services, which it’s reportedly planning to launch… Read More

Square Announces $1 Billion Convertible Notes Offering Pricing

Payments platform Square recently announced the pricing of $1.0 billion aggregate principal amount of convertible senior notes due 2025 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Square revealed that the notes will be senior,… Read More

SME Platform Xero Integrates Payment Tech Firm Square’s Software in Australia to Enable Instant Payments for Business Invoices

Small and medium-sized enterprise (SME) platform Xero has reportedly made a new technology integration with Square’s software in Australia, in order to allow users to make instant payments of small-business invoices. The new feature will allow small and medium-sized businesses (SMBs) using Square’s platform to… Read More

Big Tech Lobbying Firm, Financial Innovation Now, Releases Survey on Payment Apps, a “Vital Part of Everyday Life”

Financial Innovation Now (FIN) represents some of the biggest names in tech when it comes to Fintech. These firms include Apple, Amazon, Google, PayPal, Square, and Intuit. Each of these big tech firms have a strong foothold in providing financial services and many observers expect… Read More

Square Announces Acquisition of Dessa

Payments platform Square recently announced it has acquired Dessa,  which is described as a Toronto-based company building machine learning applications that address significant “real-world challenges” for all types of businesses.  According to Square, the acquisition of Dessa will help the platform further boost its machine… Read More

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