(Image Source:venturebeat)

 

BY GILLIAN STEDMAN

ANCHOR DAVID EARL

Mobile payments company Square is seeking a fresh round of capital that could bring its valuation to $4 billion.

Square makes a tiny credit card reader that allows businesses to process payments from a smartphone.  If this rumored cash infusion goes ahead, Square will have quadrupled its worth in less than a year.

The rumors began after Twitter co-founder Jack Dorsey’s recent meetings with global investment firm-Legg Mason. The company confirmed that it is “looking into Square”, but hasn’t made further comment.

According to All Things Digital, the business has come a long way…

“Over the past year, it has quickly expanded beyond handing out magnetic-swipe readers to offer more robust experiences for both consumers and merchants, including software on the Apple iPad that acts like a register, and software on the iPhone that is a virtual wallet.”

No doubt there’s money to be made in this mobile payment space. Google is also giving it a stab, with Google Wallet for mobile phones.  But a tech blogger for Wired thinks Square will win out in the long run…

“The “wave-and-pay” Google Wallet feature can’t be used. In fact, of the four major wireless carriers in the U.S., only Sprint supports the Google Wallet platform.”

But not everyone agrees that these devices will catch on. Fox’s Shelly Palmer says they’re not cheap to use...

“Its actually going to cost you a couple cents extra to take a credit card that way. If you’re using a lot of credit cards, you already have other solutions. So I’m not sure how big the market actually is for this device.”

However, Vator TV says Square is doing all the right things and this additional funding could bring greater opportunities to the market…

“All I know is that if Square gets a valuation between $3 billion and $4 billion, it will give them momentum that could place them out of reach for all except for Visa and PayPal.”

 

Square Edges Closer to $4 Billion Valuation

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Apr 19, 2012

Square Edges Closer to $4 Billion Valuation

(Image Source:venturebeat)

 

BY GILLIAN STEDMAN

ANCHOR DAVID EARL

Mobile payments company Square is seeking a fresh round of capital that could bring its valuation to $4 billion.

Square makes a tiny credit card reader that allows businesses to process payments from a smartphone.  If this rumored cash infusion goes ahead, Square will have quadrupled its worth in less than a year.

The rumors began after Twitter co-founder Jack Dorsey’s recent meetings with global investment firm-Legg Mason. The company confirmed that it is “looking into Square”, but hasn’t made further comment.

According to All Things Digital, the business has come a long way…

“Over the past year, it has quickly expanded beyond handing out magnetic-swipe readers to offer more robust experiences for both consumers and merchants, including software on the Apple iPad that acts like a register, and software on the iPhone that is a virtual wallet.”

No doubt there’s money to be made in this mobile payment space. Google is also giving it a stab, with Google Wallet for mobile phones.  But a tech blogger for Wired thinks Square will win out in the long run…

“The “wave-and-pay” Google Wallet feature can’t be used. In fact, of the four major wireless carriers in the U.S., only Sprint supports the Google Wallet platform.”

But not everyone agrees that these devices will catch on. Fox’s Shelly Palmer says they’re not cheap to use...

“Its actually going to cost you a couple cents extra to take a credit card that way. If you’re using a lot of credit cards, you already have other solutions. So I’m not sure how big the market actually is for this device.”

However, Vator TV says Square is doing all the right things and this additional funding could bring greater opportunities to the market…

“All I know is that if Square gets a valuation between $3 billion and $4 billion, it will give them momentum that could place them out of reach for all except for Visa and PayPal.”

 

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