A trader works the floor of the New York Stock Exchange (NYSE) in New York.
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Payments company Square rose more than 5% in afternoon trading Monday after Bloomberg News reported the payments company could offer savings and checking accounts in the near future.
The report said a code within a Square app update revealed the company’s plans including details about checking and savings accounts.
Square closed up 5.5%.
The hidden code uses rhetoric that leads Bloomberg to believe Square will offer a a 0.5% interest rate for its savings account through 2021.
Square did not immediately respond to CNBC’s request for comment.
Shares of Square are down 3% this…