25 November 2015

Square poaches from PayPal as it bids for international expansion

21 March 2012  |  7072 views  |  0 globe

US mobile swipe outfit Square has responded to PayPal's attempt to muscle in on its territory by hiring Alyssa Cutright, a 12-year veteran of PayPal, to head up its international expansion.

Cutright, who served as PayPal's vice president of products for North America, is joining the company as it bids to export its technology beyond US shores.

The move can be seen as a direct riposte to Paypal, which last week unveiled PayPal Here, a a free app and fully encrypted triangle-shaped thumb-sized card reader, which turns any iPhone, and soon Android handset, into a mobile payment system that customers can swipe their cards through to carry out transactions. PayPal claims the company signed up more than 1000 businesses per hour in the first 24-hours after the launch of Here.

While the dongle mimics many of the features of Square's own card reading device, PayPal's global footprint proves a potent threat to Square's growth prospects on foreign shores.

PayPal says it service will be generally available in the US, Canada, Australia and Hong Kong next month, with more countries soon to follow.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

16 March, 2012
05 March, 2012
23 January, 2012
10 January, 2012
08 November, 2011
07 November, 2011
19 August, 2011
29 June, 2011
23 June, 2011
03 May, 2011
28 April, 2011
22 March, 2011

Related company news


Top topics

Most viewed Most shared
MIT to run fintech degree course
8929 views comments | 35 tweets | 14 linkedin
Coinbase issues Bitcoin debit card
7977 views comments | 16 tweets | 21 linkedin
UK banks hardest hit by non-bank money tra...
7830 views comments | 27 tweets | 30 linkedin
Apple Pay users given a free ride in Londo...
7829 views comments | 21 tweets | 29 linkedin
BBVA buys 29.5% stake in Atom for £45...
6786 views comments | 33 tweets | 40 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job