Square is now processing $10 billion in annual mobile payment transactions, up from $8 billion in mid-September and exploding from $2 billion a year ago.
Beginning today, consumers may pay for their Starbucks Coffee Company purchases using the Square Wallet application for iOS and Android devices.
During a leadership conference in Houston, Starbucks executives said that the company will begin using Square Wallet for mobile payments starting in early November. At that time, customers will be able to use the Square directory to find more than 7,000 U.S. Starbucks stores.
Starbucks released an updated version of its prepaid card application for Apple's iPhone, adding support for the iOS 6 platform's new Passbook service.
American Express and Starbucks are the latest Fortune 500 companies to confirm support for Apple's Passbook, the new iOS 6 application that collects users' movie tickets, transit passes, retailer loyalty cards and related documentation.
Dunkin' Donuts unveiled a new mobile payments application enabling iPhone, iPod touch and Android users to purchase food, beverages and merchandise in store or at the drive-thru window.
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.
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.
Starbucks released a new version of its application for Google's Android enabling consumers to pay and reload their Starbucks Card via PayPal.