This announcement makes me happy, for Square and Jack Dorsey as a young business leader. I love everything about the business idea, execution, design and tone of the overall strategy.
Noteworthy points from the press release
The partnership terms include:
- Customers will be able to use Pay with Square, Square’s payer application,
from participating company operated U.S. Starbucks stores later this fall, and
find nearby Starbucks locations within Square Directory;
-Square will process Starbucks U.S. credit and debit card transactions, which
will significantly expand Square’s scale and accelerate the benefits to businesses
on the Square platform, especially small businesses, while reducing Starbucks
payment processing costs;
- Using Square Directory, Starbucks customers will be able to discover local
Square businesses -- from specialty retailers to crafts businesses -- from
within a variety of Starbucks digital platforms, including the Starbucks
Digital Network and eventually the Starbucks mobile payment application;
- Starbucks will invest $25 million in Square as part of the company’s Series D
financing round;
- Starbucks chairman, president and ceo Howard Schultz will join Square’s
Board of Directors.
Noteworthy points from the press release
https://squareup.com//news/releases/2012/square-starbucks