Over the last month we heard a lot about a new cool technology that allows your smartphone (iPhones and co) to easily accept all major credit cards. Even Wired published an entire article on Square within their actual issue. In fact, Square is a stylish card reader that can be plugged into the audio jack of a smartphone. Through that square reader and accompanied app it is possible to simply pay by using your credit card.
Square was co-founded by Twitter creator Jack Dorsey and Jim McKelvey. Dorsey also serves as CEO, Keith Rabois as COO. Square offers its reader for free and takes a little fee for each transaction you perform on your device.
In the last days Starbucks jumped onto the Square hype.
Starbucks will accelerate mobile payments leadership by choosing Square for pyyments.
Groundbreaking Partnership to Stimulate Small Business Growth and Enhance Payment Experience for Millions of Customers
SEATTLE and SAN FRANCISCO, – August 8, 2012 – Starbucks Coffee Company (NASDAQ: SBUX), with its leading mobile payment platform, and Square, the company revolutionizing everyday transactions between buyers and sellers, announced a broad innovative partnership to bring the best possible payment experience to both sides of the Starbucks counter.