Starbucks Corp.(SBUX: Quote), also popularly known as the Starbucks coffee company Tuesday said that it had chosen Square, which provides a free credit card reader for the Android, iPhone and iPad devices, to enable customers pay for their purchase through their mobile devices at 7,000 Starbucks stores across the U.S starting later this fall.
The app along with making payments simpler will also help people find their nearest Starbucks store through Square' stores directory. Customers to use this feature will only have to download the 'Pay with Square' application and register an account on their iPhone or Android device before using the application.
Starbucks is investing $25 million with Square for the mobile payment application and will send Howard Schultz, president and CEO to be part of Square's Board of Directors.
As a part of the deal, Square will also process Starbucks U.S. credit and debit card transactions while reducing Starbucks payment processing costs, said Starbucks.
Click here to receive FREE breaking news email alerts for Starbucks Corp. and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org