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Square has raised an additional $150 million in capital, valuing the six-year-old San Francisco payments company at $6 billion, reports The New York Times. Square, which was co-founded by Twitter’s Jack Dorsey, has now raised roughly $500 million, giving it a hefty war chest to compete against a smattering of other well-funded companies in the mobile payments sector, including Amazon, PayPal and Apple’s new Apple Pay.

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