Square and Starbucks originally teamed up in August 2012, when Starbucks announced its intention to invest USD 25 million in Square as part of a Series D funding round. As of November 2012, Starbucks has started to accept payments via Square’s m-payment application dubbed Square Wallet in participating company-operated locations across the US.
With Square Wallet, consumers can pay at Starbucks as well as browse menu information, store hours and transaction history on their mobile phones. Customers need to download the Square Wallet mobile application on their iOS or Android devices to set up an account. Square Wallet is linked to their debit or credit card. Customers tap “pay here”, scan their QR code and their digital receipt appears instantly.
In addition to Starbucks, Square’s readers are also resold via AT&T, Walgreens, Staples, FedEx Office, Apple, Walmart, Best Buy, RadioShack and Target.
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