US mobile payment firm Square has received a $25m investment from global coffee chain Starbucks, and the two firms have announced a partnership to accelerate usage of Square’s payment technology. Under the terms of their partnership, Starbucks customers will be able to pay for goods using Pay with Square, the payment firm’s app that allows iPhone and Android users to process transactions from their debit or credit card without the need for any additional hardware add-on.
Swedish firm iZettle has launched its mobile payment card reader service in Germany. The payment solutions provider has teamed up with financial institutions DZ Bank and Deutsche Telekom to provide small businesses with the ability to accept payments via Android and iOS smartphones.
US operator AT&T has made mobile payment firm Square’s card reader available in more than 1,000 of its retail stores. The Square Card Reader plugs into the headphone jack of smartphone or tablets and enables individuals and businesses to begin accepting payments on their mobile device.
The biggest innovations in m-payment mechanisms among merchants seem to be at the lower end of the market. But Big Retail is still in the running and everyone is seeking to influence a change in behaviour.
Twitter co-creator Jack Dorsey’s latest venture, Square – a credit card reader add on for smartphones – has won funding from an unlikely partner –Visa.