Starbucks Square partnership gets official
Starting next month, you'll be able to pay for your coffee with Square Wallet.
It's a platform that is mostly used for small business owners to be able to accept credit card payments with low overhead.
For Starbucks, though, it is an essential part of its continuously growing mobile strategy. Thanks to its first-in-the-market mobile payment platform, Starbucks has managed to convert many of its customers into paying exclusively with Starbucks credit as opposed to swiping a credit or debit card at the register.
A reported 25% of all Starbucks transactions at the counter are now made with a Starbucks card or the mobile app.
Starbucks agreed to invest $25 million into Square back in August, and it isn't the only big name to create a huge affinity for the mobile payment processor.
Square is also currently involved in a test in New York City taxis, where riders can pay for their fare through the Square credit card reader and also play with an iPad installed in the back of the cab.
In other words, Square is doing pretty well for itself, but this new partnership with Starbucks is going to blow the roof off. The new integration officially goes into place in early November.