Starbucks-Square alliance worth $25m
- August 9, 2012
- Bill Maurer, anthropology professor and Institute for Money, Technology and Financial Inclusion director, is quoted in Industry Leaders Magazine and the International Business Times August 9, 2012
From industry Leaders Magazine:
Square, the mobile payments start-up, would create an alliance with the Starbucks Coffee Company. The partnership will enable mobile payments at the company's 7000 U.S. stores. Starbucks will invest $25 million as a part of Square's Series D financing round. Moreover Howard Schultz, the Starbucks' CEO, will join Square's board of directors... Although smartphone payment technology has just been introduced to customers and in the nearest future wallets will not be replaced by mobile phones, the Starbucks-Square partnership portends the new trends. Bill Maurer, director of the Institute for Money, Technology and Financial Inclusion at the University of California, Irvine, noted: "Anyone who's going to break the mobile payments barrier in the U.S. has to overcome the resistance to try anything new when everything we have works really, really well, even cash, which is very convenient."
For the full story, please visit http://www.industryleadersmagazine.com/starbucks-square-alliance-worth-25m/