Square's payments volume rebounded in Q3, and Cash App continued to attract users and revenue
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Nov 09 2020 at 2:09 PM GMT
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- The firm's seller ecosystem brought in $28.8 billion in gross payment volume (GPV) in Q3 2020, helping Square's total GPV rise 12% YoY, per an earnings release.
- This comes after Square's seller GPV fell on an annual basis in Q2 2020, leading its total GPV to plunge 15% YoY because the coronavirus pandemic damaged its merchants' businesses.
- The recovery of Square's seller business is partially due to the easing of government restrictions that limited traffic and merchants' operations in.
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- Published Nov 9, 2020 2:09 PM GMT