In a move to further its partnership, 7,000 company-operated Starbucks locations will begin selling Square’s mobile credit card readers that help small businesses process payments, Square announced today.
Mobile payments hotshot Square raised $25 million from Starbucks last August in conjunction with a massive $200 million round of funding. Starbucks locations started letting customers pay with Square Wallet in November. Square said in November that it is processing $10 billion in annual payments.
On top of Starbucks, Square’s mobile card readers can be purchased at more than 30,000 retail stores including the Apple Store, Target, Best Buy, and Walmart. The cards sell for $10 with a $10 rebate for new users who sign up.
San Francisco-based Square has raised more than $341 million in funding to date. Investors include Kleiner Perkins Caufield & Byers, Sequoia Capital, Citi Ventures, Rizvi Traverse Management, CrunchFund, and, yes, Starbucks.
Starbucks photo: lilivanili/Flickr
VB's research team is studying mobile user acquisition... Chime in here, and we’ll share the results.