Square (NYSE: SQ) announced last night that it has begun operations at Square Financial Services, sending its stock up 3.3% by 9:45 a.m. EST on Tuesday.
You may be thinking: Doesn't Square already provide financial services? Isn't that the whole idea behind a company that performs point-of-sale credit card transactions for small (and, increasingly, large) retailers?
Yes, but this is a different scale of financial services that Square is talking about.
Source Fool.com