Three months ago, Square made headlines when it announced a partnership with Starbucks, which not only invested in the mobile payment startup, but agreed to integrate it into thousands of its retail stores across the U.S.
Starting today, customers of the coffee giant can finally pay using the Square Wallet app for iOS and Android. The app can be linked to a person’s debit or credit card and relies on a QR code, which is scanned during the check out process.
With the Square app, individuals can also discover nearby businesses thanks to the startup’s recently launched Merchant Directory — which features more than 200,000 businesses as well as access to local deals and special offers. Additionally, customers can check out menus and view other information, such as business hours, through the app.
If you’re interested in offering your customers a mobile payment solution, there are certainly advantages to adopting Square. However, while Square offers small businesses a fixed rate, it’s worth researching other options — such as PayPal’s Here — to determine which one is the better fit for your company.
Mobile payment adoption rates in the U.S. pale in comparison to those in other countries, yet Square has seen tremendous growth. The startup has amassed more than 2 million individual and business users since its launch, and we think the partnership with Starbucks is just the tip of the iceberg.