Square Now Processing $4 Million In Mobile Payments Per Day

Flush with $100 million in new funding, Square is continuing to grow like a weed in the mobile payments space. After passing the $3 million mark at the end of May, Square is now processing $4 million in mobile payments daily, and is on track to reach over $100 million in transactions in July. And COO Keith Rabois tells us that he expects the company to double this volume by October. In late June, Square raised a massive round of funding, which valued the company above $1 billion. At the time of the announcement, it was revealed that Square was processing nearly $4 million in payments per day, but the company has surpassed that mark a month later. Rabois tells us international expansion is part of the next phase of growth. He expects to initial launch payments capabilities outside of the U.S. in 2012.

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