Mobile

Mobile payments biz Square doubles users to 2M in just six months

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Mobile payments startup Square now has more than two million businesses and individuals accepting credit cards with its service, the company announced Thursday.

The company reached the one million user threshold about six months ago and now has doubled that. As it announced yesterday with its new CFO hire, the company is processing more than $6 billion in payments annually.

“Square’s incredibly simple and convenient solution meets the needs of every type of business,” said Square COO Keith Rabois. “With more than 80 percent of Americans using credit cards, making payments with Square is becoming part of everyday life.”

On top of its core mobile payments business, the company is looking for other ways to help consumers and businesses in their day-to-day transactions. Its Register app for iPad helps companies ditch their cash registers and its Pay with Square app makes it possible for consumers to pay at Square merchants without pulling their wallets (or phones) out of their pockets.