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Credit card reader co. opening NYC headquarters

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News,Business,New York City,Credit Cards

ALBANY, N.Y. (AP) — Square, Inc., the company behind the credit card payment system that attaches to mobile phones, is opening its East Coast headquarters in New York City.

Gov. Andrew Cuomo said Thursday the San Francisco-based company expects to move into its new headquarters in SoHo this summer. A spokeswoman for the company says the initial New York City team is composed of roughly 30 employees.

As part of the $5 million Empire State Development tax credits offered to Square to expand its operations, the company will have to grow by 350 employees. The tax credit is tied to job creation and investment commitments.

The credit card reader attaches to the headphone jack of iPhone, iPad and Android devices.

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