Announced just a short time ago, it has been revealed that Starbucks has partnered with Square, who will process all US credit and debit card transactions by this fall across their 7,000 locations. Additionally, Starbucks will be integrating “Square Directory” into its own “apps and digital network, unlocking other Square merchants to Starbucks patrons new and old to Square” as TechCrunch reports.
In a letter by Jack Dorsey (co-founder and CEO of Square), he drew parallels between the small and humble beginnings of both Square and Starbucks. But Dorsey assured other Square merchants that this big deal with Starbucks won’t change Square’s dedication to building “simple, affordable, and fast tools that level the playing field for everyone”.
Square began with a really simple idea: everyone should be able to accept credit cards. It should be easy and free to get set up, it should use simple technology people already own, and, most importantly, it should instantly adapt to any size business—from the person chasing a dream to the largest organization on the planet. By embracing Square, Starbucks has validated these ideas as powerful tools—not just for small businesses, but for smart businesses.
TechCrunch also reports that Starbucks is investing $25 million in Square with CEO Howard Schultz also joing Square’s Board of Directors. You can view the full letter from Jack Dorsey below the break.