News for hackers. Stuff that matters.

A comment on Square’s IPO Terms Put Valuation Below Latest Funding Round. Parent comment

Re:Square’s IPO Terms Put Valuation Below Latest Funding Round by TheSpiceIsLife on Saturday November 07, 2015 @12:13AM (#10523827)
I don't follow why a bank can't see cash flow? I live in Australia, and here almost everyone is using PayPass by MasterCard or PayWave by VISA - both are contactless PINless card payments. All those transactions have to go in to the merchants bank account.
[ Parent | on HN ]
Re:Square’s IPO Terms Put Valuation Below Latest Funding Round by x0x0 on Saturday November 07, 2015 @12:29AM (#10523864)
Um, sure -- but they get bulk deposited, not individual transactions. The merchant account is what sees the individual transactions, and that bank generally isn't the one businesses go to for loans afaik.
[ Parent | on HN ]
Re:Square’s IPO Terms Put Valuation Below Latest Funding Round by TheSpiceIsLife on Saturday November 07, 2015 @12:48AM (#10523901)
Oh yeah, true. Excuse my ignorance. Although in Australia the merchant banks also do business lending.
[ Parent | on HN ]