Monday, 3 November 2014

[W12] Flash Update for Square Register

Just something interesting that I found today.

Our sovereign wealth fund, GIC, (who will be managing your CPF etc indirectly in the future) has invested an unknown amount in Square. That's surprising news, because I thought Square is a pretty small company, and I didn't think GIC would be interested.

Could this mean that GIC sees a future in mobile payment? Perhaps we'll see Square increase its presence in Singapore pretty soon in the future.

Announcement from GIC:
As a long-term value investor, GIC believes the rising secular trend and penetration of mobile payment software will present good investment opportunities. Square, in particular, plays a key role in accelerating the acceptance of all forms of payments in the Small and Medium Businesses' sector.

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