Slower sales growth also weighed on the stock but "new products and services can provide a second wind to growth as the year progresses."
“I believe Square is building the most innovative commerce ecosystem for sellers and consumers," Ahuja says.
An industrial loan charter would enable Square to provide loans and other financial services directly to merchants.
Sarah Friar's six years at Square included an IPO — an experience she may repeat as CEO of social network Nextdoor.
Twitter CEO Jack Dorsey, who founded the company, said he was a "huge fan" of bitcoin but the move was contentious internally.
The payments company's top-line growth was driven by a 31% increase in gross payment volume to $17.4 billion.
The payments firm wants to offer a one-stop shop for financial needs by operating Square Financial Services under an industrial loan company charter.
The disclosure of the size of Visa's 2011 investment fuels speculation about its plans with the mobile payments startup.
The payments startup, about to go on its IPO roadshow, says it lost $59.3 million in the third quarter.
CEO's ability to devote time to the company cited as risk factor in S-1 filing.
Twitter hasn't reached the mass market because 'they don’t understand why to use Twitter' and ‘they don’t know how to use Twitter,' said CFO Anthony Noto.
“Individuals aren’t the only ones who don’t like checks,” the company said. “They’re inconvenient for businesses too."
