Square Statistics: Annual Rate Of Processed Transactions At 5 Billion USD

April 26, 2012 3:54 am

If growth rates are an indicator, Square could as well be the next Instagram. Just one difference – it would be Apple instead of Facebook. BTW, pretty soon, we will run into this issue of ‘updated statistics’ here at Statspotting. This is particularly evident with fast growing firms – just look at Instagram Statistics or Square Statistics. We spotted this today:

“Even with the threat of PayPal looming, Square continues to grow. The company told Bloomberg Wednesday that its annualized rate of processed transactions is now up to $5 billion, up from $4 billion a month ago. It’s unclear how much Square is actually making on all this action and if it’s even profitable, but the growth is showing that Square is executing on its bid to become a payment tool for small businesses.”

Statistics Source: GigaOm

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