U.S. mobile payments company Square annual turnover will reach tens of billions of dollars

Sina Science and technology news Beijing time November 15 morning, the U.S. mobile payments company Square announced in Wednesday, the company's annual deal of turnover is expected to reach 10 billion U.S. dollars, and just a few weeks ago, the figure is 8 billion U.S. dollars. Many people wonder how the square's annual turnover has suddenly increased. People in the industry point out that square has been putting a lot of advertising on television, a marketing activity that could drive a surge in trading volumes. It is interesting that the figure of 10 billion dollars does not include deals processed through Starbucks. Square previously announced a partnership agreement with Starbucks, which took effect last week. Under the agreement, Starbucks will use square technology in 7,000 stores across the United States. Starbucks will integrate the "Pay with Square" smartphone application into its own applications, which means that users will be able to make direct payments via the square service, using mobile phones. Square has also begun to deal with all credit and debit-card transactions that have taken place in the Starbucks all-American chain, a huge deal. Square was online in Canada two weeks ago to pay services, the company's first overseas market test. At present, 2 million businesses are using square services. Square has just completed a new round of funding, raising 200 million of billions of dollars in a round of financing that is valued at $3.25 billion trillion. Given the huge daily volume of Starbucks trading, Square once began processing the credit card payments of all its users, the turnover should soon rise again. (Qing Chen)