Wednesday, August 8, 2012

Square Gets $25M From Starbucks In Partnership Deal

San Francisco-based Square, the mobile payments firm headed by Jack Dorsey, has scored a major partnership deal with coffee chain Starbucks. The two said today that Starbucks will invest $25M in Square's Series D funding round, and will also use Square for processing its U.S> credit and debit card transactions. The partnership deal also includes the ability for Starbucks customers to use Pay with Square, it payer application at participating, U.S. Starbucks stores. The deal also will benefit small businesses using Square, which the firms said will "significantly expand" its scale. Howard Schultz, founder of Starbucks, joins Square's board as part of the funding and partnership. More information »