Starbucks to Begin Accepting Pay with Square at 7,000 Locations
Paying for your favorite cup of Joe is about to get even easier at Starbucks. In fact, you won't need cash or even a credit card—just your name. The coffee chain has linked up with Square as a means to accept payment from its customers.
Pay with Square is a way for consumers to pay at participating merchants using just their names. The transaction is then recorded on the consumer's stored credit card.
Starbucks customers will be able to use Pay with Square at 7,000 company-operated Starbucks stores across the country beginning later this fall. Consumers will also be able to locate the Starbucks nearest to their location in the Square Directory.
To use Pay with Square, consumers download the company's app to their mobile phone. As part of the registration process, you enter your name and a credit card number that you want to use for transactions. You then upload a picture.
When you arrive at the register of a participating merchant, you simply say your name. The cashier brings up your account showing your name and photo for confirmation. The purchase is then automatically billed to your account.
The largest retail mobile payment platform in the U.S. , Square will be receiving a $25 million investment from Starbucks as part of the deal. Square will also begin processing all Starbucks' credit and debit card transactions in the United States, a move that Starbucks says will help to reduce its payment processing costs.