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Square has taken its first step outside of the U.S. for its mobile payment service: it is now live in Canada. The company said today that its mobile card reader/processor is now available nationwide, priced at the same rate as in its home market: 2.75% per swipe. In the U.S. there are now 2 million businesses are now using Square’s system, making a total of $8 billion in annualized payments.
This is a sign that the company has come good on its promise that it would start to make its first international moves by the end of this year — a commitment it made when it announced its latest round of funding, a Series D of $200 million, in September. We have been hearing a lot of murmurs about where Square may go next, with some believing Asia will be next on the cards.