Starbucks Gets Square: Coffee King Switches to Mobile Payments Start-up
Filed under: Company News, Starbucks, eBay, Credit Cards
By Gerry Shih and Lisa Baertlein
SAN FRANCISCO — Starbucks (SBUX) plans to switch its processing of debit and credit card payments to mobile payments start-up Square, the two companies said Tuesday, in a deal will help establish two-year-old Square as a bona fide player in the industry.
As part of the deal, the world’s biggest coffee chain will invest $25 million into Square, the San Francisco-based company led by Jack Dorsey, co-founder of social media company Twitter.
The alliance comes…
Starbucks Gets Square: Coffee King Switches to Mobile Payments Start-up originally appeared on DailyFinance.com on 2012-08-08T10:27:00Z.
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