Square says it's now processing transactions at a $6B annual run rate - it was only several...

|By:, SA News Editor

Square says it's now processing transactions at a $6B annual run rate - it was only several weeks ago the company said it hit $5B. Square also says it has hired Salesforce.com Finance/Strategy VP Sarah Fair to be its new CFO, as well as execs from PayPal, Apple, and Tesla. Square's rapid growth comes as Google Wallet (GOOG) and many other mobile payments platforms see limited traction. PayPal (EBAY), Verifone (PAY), and Groupon (GRPN) are trying to mount challenges (I, II, III).