SQUARE, the mobile payments firm run by Twitter founder Jack Dorsey, has made its first steps outside of North America, launching in Japan.
The company, which allows individuals and small retailers to accept credit cards via their mobiles and tablets easily and at low cost, was set up in 2009 and processed its first payment three years ago, but has so far not moved out of the US and Canada.
The move follows $25m (£16.6m) of investment from Starbucks that valued Dorsey’s company at more than $3bn. The deal – Square’s first with a major retailer – will see the technology used in all of Starbucks’ US stores.
Square’s technology processes credit card payments through a small device connected to a smartphone, and has won acclaim for its simplicity and ease of use.
Dorsey, who founded Twitter but has since become chairman as he focuses on Square, is planning to expand further internationally.
“We’re excited to continue to grow Square globally, but we don’t have specific plans to announce [a UK launch] at this time,” a spokesperson said yesterday.