Square’s long-planned bank opens for business


The payment processing company will offer loans and deposit accounts to its small-business customers through a Utah-based industrial bank.


More than half of Square’s revenue now comes from bitcoin trading


The fintech that gave life to the mobile point of sale market is seeing that business overshadowed by the ever-rising popularity of cryptocurrency.


Square's Jackie Reses, who led ILC bid and small-biz lending, steps down


Longtime finance entrepreneur Jackie Reses, who led Square Capital for the last five years, is leaving the company at the end of the month. Square has not yet named a successor.


Square to invest $100 million in minority communities, entrepreneurs


Square is moving to help minority and underserved groups by investing $100 million in nonprofit financial institutions and Black-owned businesses.


Rakuten withdrawal a relief for banks, but ILC saga's far from over


The e-commerce leader’s return to the drawing board alleviates immediate concerns about its banking plans. But the company intends to reapply, and it will be harder for the industry to persuade policymakers to block industrial loan companies more broadly.


Square revenue rises even as coronavirus hurts seller volume


Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans.