San Francisco – Credit card giant Visa has made an
investment in mobile payments provider Square, a start-up founded by Twitter
co-founder and current product development head Jack Dorsey.
The company raised
$27.5 million earlier this year in a round led by Sequoia Capital.
Francisco-based Square’s mobile payments service allows merchants to use a
dongle attached to an iPhone or other smartphone to swipe credit cards.
then takes a 2.75% cut of the payment as a service fee.