Starbucks to Sell Square’s Mobile Card Readers in Store
Would you like a mobile payments processing unit with your caramel macchiato?
Square and Starbucks are further bolstering their relationship, building on one that already includes millions in investment and a payment option deal. Starting soon, Starbucks customers will be able to purchase Square mobile card readers at their coffee giant’s 7,000 stores.
The Square card reader normally sells for $10, but the company offers a full rebate for new Square-using businesses.
Last August, Square and Starbucks entered into a (slightly more important) partnership that saw Starbucks’ 7,000 stores offer Square as a payment option. Square now processes Starbucks’ credit and debit transactions, and customers can also use their Square Wallet (cardless app) to buy their morning cup of coffee.
Starbucks’ further investment in helping Square become the top mobile payments option in major stores around the country is no surprise considering Starbucks is a major investor in Square. Last September, Square closed a round of funding that included $25 million from Starbucks.
Starbucks CEO Howard Schultz also joined Square’s Board.
At the time, Square boasted that it was now processing over $8 billion in payments annually. To keep that growth, more small businesses will need to start using Square as their mobiel payments option. And getting their card readers in 7,000 of the most popular retail stores around is a pretty good start.[via TechCrunch]