Social Media Blogger/Online Citizen Journalist hybrid. LA born. DC made.
It’s official. Starbucks Coffee Company has signed up for Square, the revolutionary mobile payment system disruptor.
Jack Dorsey, co-founder and CEO of Square, announced the news in a letter dated August 8, 2012.
“It’s amazing to think that Starbucks began as a single coffee shop in Seattle. The concept of taking a good idea and helping it grow is not foreign to them, and Starbucks doesn’t just view Square as the simplest way to accept payments. They see an opportunity to extend and accelerate a model they grew up with: the idea that business is local and that community plays a vital role in job creation and economic vitality,” Dorsey said.
Dorsey also said that his company’s partnership with Starbucks demonstrates that the coffee giant has validated the core ideas that drive Square. According to the company’s mission, everyone should be able to accept credit card payments in an easy and free setup process. Furthermore, it should be readily adaptable for any size business with technology that people already own.
Starbucks will build the Square Directory into their apps and their in-store Digital Network. The territory that Square will be charting with the new partnership is huge. Over 7,000 Starbucks stores will adopt the mobile payment system, a mark for other companies to follow.
So, who’s the next major player to partner with Square? People who pay close attention to the tech industry are already asking the question. It’s not a matter of if, but when. I’m going to swipe my money on Chipotle. They have a fantastic social media team along with a sweet app that customers can use to place orders. They’ve fairly recently partnered with Foursquare to some extent.
Square seems as the next perfect fit for Chipotle.