Square scraps gift card service less than a year after launch

SAN FRANCISCO, June 27 Thu Jun 27, 2013 5:16pm EDT

SAN FRANCISCO, June 27 (Reuters) - Payment start-up Square Inc scrapped its gift card service less than a year after the payments start-up launched the effort.

"Square gift cards were a fun way to send gifts from local businesses to anyone over the holiday season," a Square spokesman said. "They are no longer available for purchase."

Square, which competes against eBay Inc's PayPal division, launched the gift card service in December, letting people buy gift cards for friends or family at businesses that accepted the company's Square Wallet mobile payment application.

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