Starbucks to use Square for payments
August 9 , 2012
Starbucks has signed a deal to use Square Inc to process payments at its U.S. coffee shops.
The announcement comes as a major victory for the two-year-old startup that is emerging as a serious competitor to established payment processors.
As part of the deal, the world's biggest coffee chain will also invest $25 million in Square.
Starbucks acquired its stake as a participant in Square's recent $200 million funding round that valued the company at $3.25 billion.