Square hits its magic number: 1 billion credit card payments processed

Gigaom

Jack Dorsey had something to be proud of when he took to Twitter this afternoon. Square processed its 1 billionth card transaction on Wednesday. The honor goes to a merchant in Sacramento, CA, according to Dorsey’s tweet.

One billion is certainly a milestone after only five years in business, but in the grand scheme of the financial industry, it’s still pretty small potatoes. In comparison, PayPal processes nearly 10 million transactions a day, meaning its handling Square’s entire historical volume at least three times a year.

But Dorsey would probably be the first to tell you Square is just getting started. It’s expanding from the small mobile business owner to larger brick-and-mortar retail locations from multi-register stores to restaurants

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Amazon’s Kindle Scout is a Masterful Meld of Kickstarter and Product Hunt

Betabeat

(Screengrab via Amazon) (Screengrab via Amazon)

Amazon has spent the better part of two decades wreaking havoc on the publishing industry, which has been decimated by digital innovation. Today’s announcement is the next in a long line of plays — from the massive sales of discount books to the pioneering of ebook sales — to develop a world where traditional publishing houses are obsolete, for better or worse.

This morning, Amazon launched Kindle Scout, a platform for upvoting potential book pitches in an effort to chose the best one each month. It’s like a fusion of Kickstarter and Product Hunt that takes the best qualities of each in order to crowdsource jobs of low level editorial assistants and readers who discover upcoming publishing talent.

There are two pieces that make Kindle Scout a formidable platform: The first being the crowdsourcing aspect. Each month, a new winner will be selected from the most upvoted…

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