Square ditches $1,000 a week limits, has 800,000 merchants processing $2 billion per year

Beforehand, when a merchant using Square racked up over $1,000 in payments during per week, everything above that limit was held for a time frame, starting from quite a few hours as much as a complete month. As of today, roughly a year and a half after the company’s founding, that restriction have been lifted. Now all payments would be processed immediately and merchants can have access to the funds tomorrow. Square also announced that, within the year or so because it started offering its wares to the general public, it has signed up 800,000 merchants who’ve processed over $2 billion in transactions. After ditching the $0.15 per-transaction charge and with the $1,000 per-week restriction limit lifted, we’re sure those numbers will only increase within the year ahead.

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This post is tagged: merchants, period of time, restriction, transaction charge, wares