Starbucks and Square have agreed to a $25 million deal to bring mobile payment solutions to Starbucks.
The deal officially applies to 7,000 Starbucks stores, but TechCrunch suggests it could expand to allow Square to reach international markets, as Starbucks currently boasts 20,000 worldwide locations.
TechCrunch speculates that other mobile payment options, such as Here from PayPal, will continue to push card-free payment on a global scale.
“The consumer is going through a seismic change in which cash is eventually going to be obsolete,” notes Starbucks CEO Howard Schultz.
“Pay with Square lets the company forge relationships directly with consumers rather than with merchants — and that means that whatever happens under the hood — whether it is about NFC or QR, or even if it decides to lift off the credit card platform to a different kind of financial instrument altogether — that customer relationship will remain, something that could be welcomed by a population that doesn’t really care about which technology does what,” explains the post.
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