SOURCE: Square

Square

December 10, 2014 09:00 ET

Square Sellers in the U.S. Just Made Over $100,000,000 in Sales in One Day

SAN FRANCISCO, CA--(Marketwired - December 10, 2014) - For the first time in the company's history, Square sellers processed over $100 million in sales in one day. Together, Square sellers would rank as approximately the 13th largest retailer in the country by annual sales, proving the collective power of independent businesses. (These numbers do not include Square's processing volume for Starbucks.) As these businesses grow, from mobile trucks to corner shops to statewide chains, they're driving meaningful economic growth in communities throughout the country.

This growth was evident during 2014, a busy year for the company and its growing community of sellers. Today, over 40 percent of Square's payment volume comes from sellers who process over $125,000 a year, up from less than 25 percent in 2012. Square's fastest growing segment is sellers processing more than $500,000 in card sales per year.

Square's reach continues to expand.

  • One in four active U.S. credit or debit cards have paid with Square this year.
  • Square businesses now get more than one billion customer visits per year.
  • Square Register, Square's free point-of-sale software, is now available to sellers around the world, offering support for 130 currencies.

Brick-and-mortar businesses are increasingly ditching traditional point-of-sale systems for Square's complete register service and growing suite of back office tools.

  • Square Capital has extended more than $75 million of business financing to more than 15,000 sellers in the United States.
  • Millions of online appointments have been scheduled through Square Appointments.
  • Customers have sent more than three million pieces of feedback to businesses through Square's digital receipts.

Square added new consumer products to its lineup this year to make commerce easy for buyers as well as sellers.

  • Square Cash customers send millions of dollars across the country on a daily basis. The farthest payment traveled 5,129 miles from Newton, Mass., to Lawai, Hawaii.
  • Customers discovered simple new ways to order their daily coffee or favorite dish with Square Order and Caviar.

"We became one of Square's first customers when we opened our coffee cart in 2009," said Sightglass Coffee cofounder Justin Morrison. "We first used Square to accept credit cards, but now we also use Square features like analytics, digital receipt feedback, and Square Capital to grow our business. We recently opened up our second brick-and-mortar cafe and we're proud to be growing alongside Square."

The power of Square's community of sellers is expected to grow next year as businesses look to accept the latest form of payments, including chip cards and contactless.

Learn more about Square sellers and what they're selling.

About Square, Inc.
Square is committed to building tools that empower sellers to start, run, and grow their business. Square's complete register service is a full point of sale that offers a suite of tools, from tracking sales and inventory to rich analytics and small-business financing. Customers in the United States also use Square Cash, the easiest way to send and receive money, and Square Order, a new way to pre-order food and drinks for pickup. Founded in 2009 and headquartered in San Francisco, Square currently offers payment processing in the United States, Canada, and Japan.

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