Visa Invests in Mobile Payment Company Square

Tricia Duryee writes that Square, the San Francisco-based mobile payments start-up that was targeted by Verifone over security concerns, just got a big boost from Visa.

The global payments provider has invested in Square, adding to a $27.5 million round led by Sequoia Capital earlier this year. At the time, Square was valued at $240 million. Square said the investment will help expand credit card acceptance to millions of businesses and individuals taking only cash or checks today. A Visa executive will join Square’s advisory board.