The other day I posted a story about the mobile payment app Square and how it was going to eliminate the use of paper money and credit cards at retail cash registers across the nation.

Apparently, the investment community feels Square is a sure bet. The New York Times reported that Square is close to raising roughly $200 million, which would give the company an implied valuation of $3.25 billion

Read more about it.

http://dealbook.nytimes.com/2012/07/24/square-is-said-to-be-seeking-a-3-25-billion-valuation