Square’s bets beyond a register brought in $253M last year as it posts a largely positive fourth quarter

Square posted a largely successful fourth quarter that showed continuing growth with its Cash App — with users spending around $90 million on its Cash card in December, putting it on a potentially $1 billion run rate.

That would offer another significant avenue for Square to snap up additional customers as it looks to chip away at the alternatives available for directly sending cash between users. While popularized by Venmo, many companies have gone after this space — including Apple, where you can send money over iMessage — and its massive popularity through services abroad are showing the appeal for a company like Square. The rest of the report was largely above analyst expectations, though it got a slight dig for missing a near-term forecast for its earnings.

Square is…

Read Story