The two firms will become independent publicly traded companies in 2015. The move follows pressure from investor Carl Icahn to spin off the payments ...
The coffee shop begins accepting the mobile payments app.
Starbucks Coffee Co. today begins accepting Square’s mobile payment application, Square Wallet, in 7,000 participating U.S. locations.
A customer downloads Square Wallet to her Apple Inc. iOS or Android device to set up an account. Square Wallet is linked to her debit or credit card, so there is never a need to reload a balance. The customer slides the Slide to Pay bar which generates and displays a unique QR code that she holds under a scanner at the cash register to complete a transaction, similar to the way the existing Starbucks mobile payment application works. Her digital receipt appears instantly on her smartphone.
With Square Wallet consumers can pay at Starbucks, explore nearby businesses, and browse menu information, store hours and transaction history. They can also pay with Starbucks’ own mobile payment application on iOS and Android, which is used by Starbucks customers more than 2 million times each week, Starbucks says, and is integrated with the Starbucks Card and My Starbucks Rewards programs.
“We look forward to continuing to create amazing connections with our customers both in our stores and outside of our stores and offering our customers choices in how they want to pay,” says Adam Brotman, Starbucks chief digital officer. “Starbucks was the first national retailer to offer its own mobile payment technology in January 2011 and we have seen a tremendous response from our customers with more than 100 million mobile transactions occurring in our U.S. stores since its launch. Starbucks believes in the values and vision of Square, and just three months after announcing our partnership with Square, we are thrilled to make the convenience of paying with the Square Wallet app available to our customers starting today.”