Announced just a short time ago, it has been revealed that Starbucks has partnered with Square, who will process all US credit and debit card transactions by this fall across their 7,000 locations. Additionally, Starbucks will be integrating “Square Directory” into its own “apps and digital network, unlocking other Square merchants to Starbucks patrons new and old to Square” as TechCrunch reports.
In a letter by Jack Dorsey (co-founder and CEO of Square), he drew parallels between the small and humble beginnings of both Square and Starbucks. But Dorsey assured other Square merchants that this big deal with Starbucks won’t change Square’s dedication to building “simple, affordable, and fast tools that level the playing field for everyone”.
Square began with a really simple idea: everyone should be able to accept credit cards. It should be easy and free to get set up, it should use simple technology people already own, and, most importantly, it should instantly adapt to any size business—from the person chasing a dream to the largest organization on the planet. By embracing Square, Starbucks has validated these ideas as powerful tools—not just for small businesses, but for smart businesses.
TechCrunch also reports that Starbucks is investing $25 million in Square with CEO Howard Schultz also joing Square’s Board of Directors. You can view the full letter from Jack Dorsey below the break.
I am pleased and proud to announce that today Starbucks signed up for Square.
Square began with a really simple idea: everyone should be able to accept credit cards. It should be easy and free to get set up, it should use simple technology people already own, and, most importantly, it should instantly adapt to any size business—from the person chasing a dream to the largest organization on the planet. By embracing Square, Starbucks has validated these ideas as powerful tools—not just for small businesses, but for smart businesses.
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. When Starbucks builds the Square Directory into their apps and in-store Digital Network, it gives Square new visibility, driving more customers to opt-in to Square. And with nearly 7,000 Starbucks stores soon accepting Square, these new payers will be able to find your business (including coffeehouses) and pay with their name, building community and creating value.
Our customers make us who we are, and we are proud of every single one of you—including our newest. Our promise to you remains the same: build simple, affordable, and fast tools that level the playing field for everyone. Thank you for helping us build Square. And please share your thoughts and tweets; I’m listening.
As Howard Schultz says: #Onward,
Jack Dorsey
CEO
Square Inc.
