Mobile point-of-sale provider Square lost US$100m in 2013 but is making a 34% gross margin on its processing business, according to leaked internal documents seen by Fortune. “Its losses are largely the result of the heavy investment it is making in new products,” the report says.
- China’s Expresspay Card moves into wearable payments
- PayByPhone integrates with Alexa to let drivers pay by voice from their cars
- Queensland to roll out state-wide open loop ticketing for trains, buses and ferries
- China’s national transit card system to cover 260 cities this year
- Xiaomi unveils low cost fitness tracker that supports NFC and QR payments