One year on from the day it launched Square the mobile phone credit card processing service has made a number of announcements today unveiling a few new features and the news that its now passed 800,000 customers and is processing around $2 Billion in payments per year.
Square also revealed it will be dropping its $1,000 limit. Previously if a new client processed over $1,000 is transactions anything over the $1,000 limit would then have been kept by Square for a period of time from a few hours to a month, depending on the merchants standing with Square. If you are a merchant of Square you will be pleased to know this limit has now been dropped and is sure to make a welcomed change to small business cash flow.
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