Jack Dorsey: Square has processed 1 billion payments

CEO Jack Dorsey boasted via Twitter -- another popular tech brand he also helped establish -- on Thursday that Square has surpassed one billion payments.
Written by Rachel King, Contributor

Reports continue to surround Square about its long-term viability and possible buyouts, but the payments platform has definitely proven its traction.

CEO Jack Dorsey boasted via Twitter -- another popular tech brand he also helped establish -- this week that Square has surpassed one billion payments.

The San Francisco-headquartered company continues to plug away at establishing itself as a more well-rounded, cloud-based platform for SMBs and enterprise clients alike.

Last month, Square launched its own App Marketplace, touted as a one-stop shop for merchants looking for relevant business apps not only from Square itself but also other business applications tailored to work with Square.

In September, Square signed a deal with SumAll, its fifth platform partner and first for analytics, to provide its corporate customers with an insightful picture of what is driving their offline sales.

Although Square might be most closely associated with the iconic white dongle, enabling credit card payments via smartphones and tablets, software is increasingly become the San Francisco firm's money ticket on the way to an expected IPO.

Square has been especially bolstering Register, the company's cornerstone point-of-sale platform for payments, inventory, and analytics, from a myriad of angles. The upgrades have included tacking on a new invoice feature, an online scheduling tool for SMBs, and an order-ahead function dubbed Pickup.

All the while, Square has been repeatedly downplaying rumors about a potential sale or merger with the likes of Apple or Google while also trying to keep in step with online retail giant Amazon.

Nevertheless, Square continues to grow online and off, including with a major investment of its own earlier this year when it opened a new office along one of the most retail-heavy streets in Manhattan -- and just one mile from Wall Street.

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