Starbucks Stores to Roll Out Square Payments Next Month

by Christopher Freeburn | October 5, 2012 1:12 pm

You’ll soon be able to pay for that over-priced latte with your smartphone[1].

Starting in November, Starbucks (NASDAQ:SBUX[2]) will begin using Square Wallet’s mobile payment system to process payments at its 7,000 coffee shops in the U.S., PC Magazine notes.

The alliance between the coffee chain and the mobile payment app developer will also permit smartphone users to locate the nearest Starbucks shop through the Square Wallet app.

In August, Starbucks invested $25 million in Square Wallet and its CEO joined Square’s board. Square’s mobile payment app is available for Apple‘s (NASDAQ:AAPL[3]) iPhones and smartphones running Google‘s (NASDAQ:GOOG[4]) Android operating system.

For now, you can only pay for purchases using the app, but by next summer, Starbucks says customers will also be able to send tips to their servers with the app.

Starbucks is also integrating its iOS 6 app[5] with Apple’s new Passbook program, which lets iOS device users earn discounts and incentives from retailers.

Shares of Starbucks moved fractionally higher in Friday mid-day trading.

Source URL: http://investorplace.com/2012/10/starbucks-stores-to-roll-out-square-payments-next-month/
Short URL: http://investorplace.com/?p=241713

---