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Square's next step: International expansion

The mobile-payments company's CEO, Jack Dorsey, didn't say where the international expansion will extend to, though.


Square, the mobile-payments startup that has made a big splash around the U.S., is looking to go overseas.

The company's chief executive, Jack Dorsey, told reporters yesterday at the Allen & Co. media conference in Sun Valley, Idaho, that Square is "going outside the U.S. soon." According to Bloomberg, which was first to report on the news, Dorsey didn't say where his company would be expanding. He also wouldn't say when it would happen.

Even without help from international efforts, Square has been growing quite rapidly and announced in March that it was processing $4 billion a year in payments. The company offers an accessory that connects to mobile devices and lets people swipe their cards. It also offers a full payment portal for companies that use its service, as well as a cash-register replacement for businesses that want to manage inventory and take payments on an iPad.

Square takes a flat 2.75 percent transaction fee on all payments.

CNET has contacted Square for comment on where it might expand in the future. We will update this story when we have more information.