Wednesday, August 8, 2012

Starbucks Boosts Square With Investment, Partnership

Seattle-based Starbucks said today that it has made an investment in mobile payment provider Square, and has also entered into a broad partnership with the company. According to Starbucks, it is investing $25M in Square as part of that company's Series D funding round, and will add Howard Schultz to Square's board. In addition, Starbucks said its customers will be able to use Pay with Square, its payer application, at U.S. Starbucks stores later this fall, and that Square will process its U.S. credit and debit card transactions. Square is known for its devices, which connect to iPhone and Android phones, allowing for the mobile swipe of credit cards. More information »