Starbucks switches to Square for payments, invests $25 million and will support Pay with Square

While Square's mobile payment processing platform has already picked up some major players in retail to go along with more than a million small businesses, its biggest shot in the arm to date is a new partnership with Starbucks. The chain will use Square to process credit card payments in nearly 7,000 US locations along with investing $25 million in the company, while Starbucks president, chairman and CEO Howard Shulz is joining its Board of Directors. Also notable for Square is that this fall Starbucks will be pushing features like its Pay with Square app that lets customers pay via iOS and Android apps, as well as the Square Directory of local businesses. In a letter, Square CEO Jack Dorsey pushed the platform as a way enhance local businesses and communities, but we'll see how friendly your local coffeeshop employees are when a familiar green logo shares their payment processor.

[Source: Engadget]