September 19, 2013 3:59pm
Adoption of this type of mobile payment in Canada has steadily increased over the past year, and so has Square’s stats. The last time we heard from the company was in April when they declared that have over 3 million users, thousands of merchants and successfully processed $12 billion in transactions – granted this number is made up of both the United States and Canada.
Today, Dorsey was in Toronto talking up Square, technology and entrepreneurship. Square currently has a small team of engineers in a co-working space at the Breithaupt Block in Kitchener, but Dorsey revealed in an interview with us that they’re planning to set up shop permanently in the Kitchener-Waterloo area in 2014, plus expand its workforce to employ a total of 30 in Canada.
An update of stats: Square has ‘millions of merchants’ across Canada, United States and Japan, but no specific number for Canada. The number of users has reportedly increased 5 times from the beginning of the year. More importantly, the number of transactions that Square has processed has risen to $16 billion.
As for Square Wallet – a feature that will allow you to potentially leave your physical wallet at home and simply pay with your name and face – is still on the plans to come to Canada. This has been ‘coming soon’ since October of 2012, but an official launch is nowhere in sight and working through the regulatory issues.
The Square Register point-of-sale platform, card reader dongle, and app (available on iPhone, iPad or Android) are all available free.