Square will go ahead and process Starbucks U.S. credit and debit card transactions, and this will significantly expand Square’s scale and accelerate the benefits to businesses on the Square platform. It might just help small businesses, while assisting Starbucks in reducing their payment processing costs. Approximately 7,000 Starbucks stores will participate in this partnership.
Howard Schultz, Starbucks chairman, president and CEO, said, “As the largest retail mobile payment platform in the U.S., we’re excited and proud to accept payments with Square. The evolving social and digital media platforms and highly innovative and relevant payment capabilities are causing seismic changes in consumer behavior and creating equally disruptive opportunities for business. Both Starbucks and Square take a similar approach when building products and running our businesses, and together we can bring the best possible payment experience to Starbucks customers.” [Press Release]