(UPDATED) Mobile POS provider Square announced it has hired Sarah Friar as the company's chief financial officer. Friar comes to Square from SaaS company salesforce.com, where she was senior vice president for finance and strategy.

"Square was founded on a commitment to help people start and grow their business," said Friar. "I'm thrilled to join a company driving meaningful economic growth while revolutionizing the payment experience for consumers."

In addition to naming a CFO, Square announced that it has grown to more than 300 employees serving more than 1 million 2 million merchants who use Square to accept credit and debit cards on their smartphones. Further, the company said it is now processing more than $6 billion in payments on an annualized basis.

UPDATE: Less than 24 hours after Square announced Friar's hire, and touting its more than 1 million merchants, the company announced it has actually reached the 2 million merchant mark. Square said it took only six months to double its merchant base from 1 million to 2 million users.

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