What Is Square’s Daily Payment Processing Volume?March 6, 2012 3:36 am
We had spotted multiple square transaction statistics – it has had a stunning growth for a payment processing company – but how much is square handling on a daily basis? We spotted this today:
“Then, last October, Square switched to “billions per year” instead of “millions per day,” presumably because that sounds more impressive. (That’s cool, I still have a TI-89 handy.) Its “$2 billion per year” run rate in late October suggests around $5.5 million per day. And today’s update — “$4 billion per year” — is about $11 million per day.
Assuming Square gets a 2.75% cut of all of the $11 million in payments processed per day, that’s around $300,000 in revenue per day, or a $110 million annual revenue run rate. Neat.”
Statistics Source: SplatF