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Mobile-payment-processing company Square has brought its operation to Japan.
The company announced the news on Thursday, saying that it will charge merchants 3.25 percent per swipe. As with its service in the U.S., all funds will be automatically deposited into the merchant’s bank account on the next business day.
In order to bring Square to Japan, the company teamed up with Sumitomo Mitsui Card Corporation, a credit card processing firm in Japan. The terms of that partnership were not announced.
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Square’s entry into Japan comes about a year after PayPal brought its own offering, PayPal Here, to the country. PayPal hasn’t said how popular Here has become in Japan.
Square also took the opportunity on Thursday to point out its own service’s success, saying that it now has more than 4 million customers in North America. The company is processing over $15 billion in annualized payments.
In addition to launching its card scanner, Square is also allowing merchants to use its free Register app. That software is designed to replace traditional registers in stores.
