Recently, Starbucks, which considers itself as a leader in mobile payment technology, made a $25 million into Square, which is a high tech start up that created a simple square device that plugs into a mobile phone enabling anyone to take a credit or debit card payment. The device, in itself, can change payments as we know it, allowing Square owners to use them for everything from yard sales to Craig’s List sales. Square’s software lets merchants accept electronic payments on their own hardware or through a device that plugs into a phone or tablet.
The Wall Street Journal, reported that Starbucks plans to use Square’s current service to enable customers to pay by mobile phone or by simply stating their name to the barista. This truly extends the Starbucks brand and help maintain its position as a leader in mobile payment transactions.
For many customers, Starbucks has always stood as a creative company offering creative offerings, but I believe this could only enhance a greater adoption of technologies in the mobile market space because of the growing demand from customers. It will certainly be interesting to see the trend in changes to mobile payment technologies.
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