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.
A milestone: 1 BILLION payments through Square! Who made the billionth swipe? A merchant in Sacramento that’s been using Square for 2 years.
— Jack (@jack) November 5, 2014
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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jihoon kim 