Sam Oliver
Small businesses using Square's popular iPhone- and iPad-connected credit card readers combined to sell more than $100 million worth of goods and services in a single day, the company announced on Wednesday.
Food the most popular item on that day, with payment for nearly 1.5 million meals and 430,215 cups of coffee flowing through the app. 202,692 people got haircuts, while 72,601 purchased new clothes.
Some 4,445 pairs of shoes, 55,021 can rides, and 648 tattoos were also sold. Consumers paid for 25,569 services, such as home repairs.
Along with the lofty sales figures, Square highlighted some other equally impressive statistics. One out of every four active credit or debit cards in the U.S. has been used with Square in 2014, for instance, and Square merchants would be the 13th-largest retailer in the country if taken together.
Square has long been viewed as a likely acquisition target for Apple, and the Cupertino company reportedly "considered" such a purchase before ultimately passing on the opportunity. The two firms are working together, however, as Square announced last month that it was working to give merchants using Square Register the ability to accept NFC-based Apple Pay payments.
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12 Comments
I'm not all that sure that Apple actually needs Square. I think Square is better as a standalone enterprise. Doing fantastically well all by itself.
This is my biggest reason to not use Square: it knows everything I paid for. How hard is it for advertisers to buy access to Square, and that when they learn that I frequently purchase products from brand A or visit store X, they will push for "have you considered brand B and location Y?"
It's a pos terminal connected to a retailers system. It is just one of many, many swipe systems. The big difference being that it connects to an iphone or iPad. It is not big brother.i
"55,021 can rides" - what is a 'can ride', anyone? Is that an American term? Or perhaps a misspelling for 'cab ride'?
[quote name="zoffdino" url="/t/183827/square-merchants-in-the-us-post-sales-of-100m-in-a-single-day#post_2650366"] This is my biggest reason to not use Square: it knows everything I paid for. How hard is it for advertisers to buy access to Square, and that when they learn that I frequently purchase products from brand A or visit store X, they will push for "have you considered brand B and location Y?" [/quote] Lay off the South American snow, and the paranoia will subside.