Square announced this morning that they are partnering with Starbucks.
For those of you not familiar, Square is a mobile payment processing platform, allowing individuals and small businesses to easily (and cheaply) accept credit cards. They have also built an interesting app (Pay with Square) allowing users to pay by name at their favorite Square-accepting businesses.
This partnership is beneficial not only for Square, but for all businesses who accept Square. Square benefits because they will be processing many more transactions and will receive a $25 million investment from Starbucks. Square businesses will benefit because visibility of Pay with Square at Starbucks will increase awareness of Square, making more people seek our Square businesses (including Starbucks) in the Square Directory.
I’ll be interested to see how the Starbucks Gold Card program could be integrated into Square (they already allow businesses to have loyalty cards).