Square (SQ, Financial) provides hardware and software that allow merchants and other service providers to accept credit card payments. As small businesses have become increasingly dependent on e-commerce, Square has helped them adapt quickly. As a result, Square has added a significant number of new customers, increased average revenue per user, and improved gross processing volume—the total dollar amount of card payments processed by merchants using Square's system.
From Spiros Segalas (Trades, Portfolio)' Harbor Capital Appreciation Fund fourth-quarter 2020 commentary.
