Groupon is rolling out a new mobile payments processing platform that promises lower merchant costs than rival efforts from Square and PayPal.
Square has closed its Series D financing round, led by investors including Citi Ventures, Rizvi Traverse Management and Starbucks Coffee Company. The New York Times reports the round totals about $200 million, valuing the mobile payments startup at $3.25 billion.
PayPal is teaming with Discover to extend its fledgling mobile wallet service to millions of additional retail locations across the U.S., striking a major blow in the battle for m-commerce supremacy.
Square is rolling out a new flat-rate pricing option for small business users, enabling merchants who process up to $250,000 per year to pay a monthly fee of $275.
Every revolution has its tipping point, and for the mobile commerce revolution, that signature moment arrived Tuesday, when Starbucks announced it would begin processing all credit and debit card transactions using Square's mobile transaction technologies.
Starbucks will soon begin processing all credit and debit card transactions using Square's mobile commerce technologies, a move to slash operational costs across the coffeehouse chain's 7,000 company-owned U.S. locations.
A Square executive said it is unlikely his company would consider working with archrival PayPal in any capacity, stating their respective cultures are "too different and fundamentally incompatible."
Cash is far from dead, but its days definitely appear numbered. A third of U.S. consumers have now made payments via mobile device, roughly double the percentage of Americans leveraging m-payment capabilities just one year ago.
VeriFone is extending its SAIL mobile payment platform to devices running Google's Android mobile operating system.
Square is rolling out new customer rewards features enabling merchants to offer in-app loyalty programs and related services.