Assuming Square gets a 2.75% cut of all of the $11 million in payments processed per day, that’s around $300,000 in gross revenue per day, or a $110 million annual revenue run rate.
Friday, June 29, 2012
Square Processes $11 Million Worth of Transactions a Day
Square processes at a rate of $5 million a day (up from $3 million in 2011, and $4 million in March 2012), Sybase says. Others say Square processes $11 million a each day.
Gary Kim has been a digital infra analyst and journalist for more than 30 years, covering the business impact of technology, pre- and post-internet. He sees a similar evolution coming with AI. General-purpose technologies do not come along very often, but when they do, they change life, economies and industries.
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