The service of mobile payments “Square” can lead to IPO in 2014

The service of mobile payments “Square” can lead to IPO in 2014The service of mobile payments “Square” discusses with investment banks an opportunity of the initial public offering on the Stock Exchange in 2014, informs “The Wall Street Journal” with reference to informed resources. Nowadays the service is headed by the co-founder of Twitter Jack Dorsey.

Mr.Dorsey has founded the “Square” in 2008. The service allows making mobile payments from smartphones and tabs with the help of common credit card and special adapter, put in audio-connector of the device. The service is available to owners of the mobile devices Apple and gadgets on the platform Android.

According to the WSJ, the “Square” has conducted negotiations with banks, including the “Goldman Sachs” and the “Morgan Stanley” about opportunity to distribute shares on the Stock Exchange in 2014. Negotiations details are not disclosed, companies’ representatives do not comment the situation.

Though the “Square” still does not disclose financial indexes, the amount of earnings can reach $1B in 2014, according to resources of the WSJ. This year the company’s amount of business is foresees at the level of $550M, and the total amount of processed payments is $20B. The service still does not make profit.