Visa Takes Stake In Square

In its latest foray into the mobile payments space, Visa has made an undisclosed investment in startup Square, which makes a small device that attaches to an iPhone, Pad and Android phones that can be used to accept credit card payments. A Visa executive will join Square's board as part of the deal. The payment giant in February acquired PlaySpan to enter the virtual goods monetization space, and more recently has launched an iPhone app for finding local deals and announced it will allow person-to-person payments like PayPal. In Square, Visa has placed another bet on new way to pay with a credit card. Square, started by Twitter co-founder Jack Dorsey, has raised $37.5 million to date from investors including Sequoia Capital. A huge partner like Visa could lend a good deal of marketing muscle to the venture.
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