Square Reaches 1 Million Active Retailers

Sites include SquareUp.com . Published on December 18th, 2011. Written by Anthony West.

Square, the popular credit card processing company started by Twitter’s Mark Dorsey has hit a very important milestone. The company has surpassed the 1 million active merchants mark for the first and according to Dorsey, this milestone is perhaps one of the biggest Square will ever pass.

Dorsey made the announcement via Twitter and tweeted among other things, that “Just as small businesses are growing with Square, we’re growing with them: Over 1 million merchants now accept credit cards via Square”. He went on to add, rather glibly that “To put that in perspective: there are only 8 million merchants who accept credit cards in the US. @Square has added 1 million.”

Clearly Mr Dorsey is quite proud of his achievements and who can blame him? Ever since Square was launched it was envisaged at the savior for the handling of mobile credit card processing. The fact that the platform has managed to capture 1 million out of a potential 8 million active merchants who accept credit cards in the US, says quite a lot about the platform, and the stewardship of Mr Dorsey.

No doubt Mr Dorsey will be setting his sights on the larger goal of 2 million active merchants and given his ties with Twitter and its partnerships with Apple, anything is possible.