Starbucks Begins Accepting Square Wallet Payments

by Christopher Freeburn | November 8, 2012 1:19 pm

[1]Coffee lovers can now pay for their lattes at Starbucks (NASDAQ:SBUX[2]) using their smartphones[3].

The coffee shop chain started accepting payments through Square, which permits uses to pay for purchases through an app on their mobile devices, on Thursday, Business Insider noted.

Starbucks announced its partnership with Square back in August[4], investing $25 million in the mobile payment start-up.

Smartphone owners can download Square’s Wallet payment app for Apple‘s (NASDAQ:AAPL[5]) iPhone and devices running Google‘s (NASDAQ:GOOG[6]) Android operating system. The app displays a bar code that can be scanned at the cash register, processing payment.

Other features, which include voice payments, will become available later.

In addition to the smartphone app payments, Square is providing debit and credit card swipe payment processing at Starbucks locations.

Shares of Starbucks slipped more than 1% in Thursday afternoon trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/05/square-mobile-banking-630.jpg
  2. SBUX: http://studio-5.financialcontent.com/investplace/quote?Symbol=SBUX
  3. using their smartphones: http://www.sfgate.com/technology/businessinsider/article/Square-And-Starbucks-Just-Launched-Their-Mobile-4018749.php
  4. partnership with Square back in August: http://investorplace.com/2012/08/starbucks-to-accept-square-mobile-payments/
  5. AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
  6. GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG

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