Square will now accept Discover and Diners Club credit card payments in Canada, joining American Express, Visa, MasterCard and JCB credit cards.

San Francisco-based Square first moved into Canada, its first foreign market, in the fall of 2012. Today, the company processes more than $100 million annually in Canadian card payments.

"Being able to accept all types of credit cards is key to our business, especially when teams are coming from out of the country to compete in sports tournament," says Matt Webb, co-owner of Sports Action Pictures, a Vancouver,-based business that sells action photography, in a Feb. 21 press release.  "As families line up to order action photographs of their kids, we want to make sure they have the best experience with us."

Square also removed holds and deposit limits for Canadian users. Previously, merchants who accepted large card payments could have funds held for as much as a month. Square made a similar change in the U.S. in November.

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