We've gotta hand it to Square. The mobile payments company has just signed on its biggest partner to date--Starbucks. Yep, with the new deal, customers will be able to pay for their orders with the Pay with Square app in the US, which means they won't even need to bust out a card or cash. Square will also be processing all Starbucks credit and debit transactions. In addition to Square being accepted at Starbucks locations, the deal also sees Starbucks investing some $25 million as part of Square's current financing round. Starbucks CEO Howard Schultz has even joined the Square board of directors. Yeah, this is a big deal. Other Square partners include FedEx, Staples, and Walgreens.
So, when will you be able to start paying with Square at Starbucks? The company will launch the functionality this fall across 7,000 US locations.
Square CEO Jack Dorsey is on stage at TechCrunch Disrupt right now, and he just announced a new product from the company called Square Register. It's an app for the iPad that prety much turns the device into a full on cash register on steroids. It also includes a bunch of analytics, which lets users see all sorts of data. For example, a coffeehouse can see how many lattes they sold last Tuesday, how many customers also bought biscotti, or what trends happen when it's rainy out. The product works with a consumer app called the Square Card Case which acts as a digital loyalty card, menu, receipt holder, map, and payment card all in one. The new Register and Case Card service is debuting with 50 merchants spread across San Francisco, Los Angeles, New York City, St. Louis, and Washington, D.C. These include bakeries, coffee shops, restaurants, salons, flower shops, and more.
New iPhone credit card payment service SquareUp has finally been unveiled, and we’ve gotta say, it’s got our attention. The brainchild of Twitter co-founder Jack Dorsey, SquareUp aims to be a simple, sleek, inexpensive, and charitable credit card payment processing service. It works on the iPhone and iPod touch, in conjunction with a credit card reader that plugs in to the audio jack. You get payer verification, receipts that can be sent via email or text message, and receipt signing using your finger. Even cooler, in our opinion, is that Square will donate one penny of every transaction to a charity of the seller’s choice.
If Square plays their cards right, they will be a force to reckon with in the small business arena. The service is in limited beta right now, but Square says it’ll be fully open in 2010. We’ll see if we can’t get a beta account to give you a better look at how it all works.
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