NEW YORK (TheStreet) -- Square's deal with Starbucks (SBUX) may have huge ramifications for the mobile payments industry, and by selling its mobile payment readers in 7,000 Starbucks U.S. stores, it'll give Square another heads up on the competition.
According to media reports, Starbucks will sell its readers in the stores, further adding to the deal the two companies agreed in August, whereby Square's service would be used in 7,000 Starbucks U.S. locations.
Square's readers are already sold in other retail locations, including Apple (AAPL), Target (TGT), Best Buy (BBY), and Wal-Mart (WMT). By adding Starbucks to its retail locations, this will only continue to put its services, software and readers in the forefront of consumers' minds.San Francisco-based Square has been able to take the lead in mobile payments over other companies, thanks in large part to its retail presence. Square is thought to be doing over $8 billion in payment transactions annually, though that number could be higher given the its deal with Starbucks. The small white reader, which users connect to their smartphones or tablets sell for $9.99, but new users are offered a full rebate once they begin using the reader. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV