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Paying for your morning Starbucks drink may soon come in a new fashion. The Square software company recently worked up a deal with Starbucks to begin handling all credit card transactions with the coffee giant. Via TNW:
The availability of readers in Starbucks stores comes after Starbucks signed a $25 million payment deal with Square, an agreement that sees it handle all credit card transactions for the coffee giant. Starbucks was one major backer in Square’s Series D financing round — which valued it at $3.75 billion — which also saw Starbucks chairman, president and CEO Howard Schultz join the company’s Board of Directors.
Image Credit: Brian Wilkins/Flickr
Square’s first Starbucks rollout came in November, but it isn’t expected to be limited to the US. Square has already expanded its services into Canada and is expected to come to Europe later in 2013.
The company entered the new year with more than $341 million in total funding, processing $10 billion annually.
Read more on TNW.
Why would I — or anyone for that matter — pay $10 when I could get it for free? Other mobile card reader issuers are also giving it for free. I got my mPowa card reader for free at http://www.mpowa.com! But the thing is I don’t really give much of a hoot as I neither drink at Starbucks or use Square.