Starbucks Banks On Mobile Payment Winner, Invests $25M In Square Follow Oct 14, 2012 · 1 min read
Starbucks Banks On Mobile Payment Winner, Invests $25M In Square
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Archive by by Ken Yeung

The world of mobile payments just got turned upside down. I think every startup has been wishing for this news to happen to them–it’s quite frankly a game-changer and can potentially put a lot of people out of business or at least rethinking their strategy. Okay, so what is everyone talking about right now? Probably that coffee giant, Starbucks, has just placed their bets on mobile payment service Square–so much so, that they’ve announced they’re going to invest $25 million in the startup’s latest round of funding.

Square has been in the news quite a bit lately and pretty much has become the media darling that everyone is talking about and wants to use. From recently announcing that they’ve processed over $6 billion in payments annually to securing deals with name brands like Staples, Target, Walgreens, and FedEx Office stores to distribute those iconic credit card readers, this mobile payment company has really hit the ground running hard and has become quite synonymous with pay-by-phone.

And it’s become quite a boon for its founder, Jack Dorsey, who just so happens to also be a co-founder of microblogging powerhouse service, Twitter. And it can’t be that easy for the guy, either. I mean, he’s probably as well-known for his work schedule as he is being the founder of two of the hottest tech startups in the industry. But he does it and it’s certainly showing. After all, he’s the entrepreneur who found a way to disrupt the payment system in a way that the average person and small business can easily adapt and handle mobile transactions to help keep them in business and still pay a lower percentage fee compared to all the other traditional card readers.

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