Posted by Sheila Shayon on August 8, 2012 11:07 AM
Starbucks’ $25 million investment in and deployment of Square for mobile payments, signed Tuesday by Square CEO Jack Dorsey and Starbucks CEO Howard Schultz, will help spur adoption of mobile commerce in the US, with a halo effect that will be felt beyond.
Square will begin processing all credit and debit card transactions at Starbucks’ nearly 7,000 company-owned shops in the United States this fall via Pay With Square, and soon, customers will order their café du jour and charge it to their credit card just by saying their name.
“Starbucks is one of the largest organizations in the world, taking technology like Square — simple, fast and focused on customer experience — and bringing it to a massive scale,” commented Dorsey to the New York Times.
The Twitter co-founder and executive chairman (naturally) tweeted the whole deal, sharing the big news late Tuesday night in New York and subsequently posting photos of Adam Brotman, Starbucks' chief digital officer, using Square (and tipping 30%) in a NYC taxi; the deal-signing with Schultz taken Tuesday night in New York; and a twitpic on the floor of the New York Stock Exchange Wednesday morning.
It's a huge week for Square: it's also receiving some cross-promotional love from Apple. Check out the new TV commercial for the iPad (being swiped as the voiceover says "make a sale") that debuted Tuesday night, below.Continue reading...