Why Square Stock Jumped Today
Shares of Square (NYSE: SQ) climbed 7% on Tuesday after the fintech leader announced new instant payment services for its payroll customers. "Because businesses still run payroll on a fixed schedule, employees are paid days or weeks after they've worked," Square Payroll General Manager Caroline Hollis said in a press release. Meanwhile, Square's new Instant Payments service will allow employers to fund their payroll instantly using the money in their account, rather than the several days it typically takes with traditional payroll services.
