"Rabois says that Square’s merchants now represent 10 percent of the transactions in the Visa/MasterCard world."
This is either a) completely untrue, or b) a clever play on words (I don't know what "Square's merchants" means)
800k card readers shipped is significant and would be about 10% of the total companies that take credit cards, but the vast majority of those with readers are not actually companies (I have gotten several of them in the mail... saying "card readers shipped" is like AOL talking about how many CD's or disks they gave out in the 90's)
There are ~56Billion visa/mc credit and debit card transactions per year, if anyone was interested. (taken from Visa/MC 10-k's)... and a total of $3.5Trillion in transaction volume
I would guess it was (a) because the store doesn't have that line anymore. Now it says: "Rabois says that Square’s merchants are now 10% of the reach of the Visa/MasterCard world."
This is either a) completely untrue, or b) a clever play on words (I don't know what "Square's merchants" means)
800k card readers shipped is significant and would be about 10% of the total companies that take credit cards, but the vast majority of those with readers are not actually companies (I have gotten several of them in the mail... saying "card readers shipped" is like AOL talking about how many CD's or disks they gave out in the 90's)
There are ~56Billion visa/mc credit and debit card transactions per year, if anyone was interested. (taken from Visa/MC 10-k's)... and a total of $3.5Trillion in transaction volume