And guess what? – they plan to undercut Square and PayPal on the fees they charge retailers by a whole percentage point (1.75% to Square’s 2.75%,and PayPal’s 2.7%). No surprise there then as Amazon have certainly been upping the ante recently when it comes to throwing their weight around, brazenly squeezing their suppliers. They also take a swipe (get it?) at Square’s perceived lack of retailer support by highlighting their ‘awarding-winning’ customer service.
Square will soon begin processing all credit and debit card transactions at Starbucks stores in the United States, streamlining the payment process in-store with customers eventually being able to charge their order to their credit cards simply by saying their names.
A huge coup for Square, this will see the company processing payments at 11,000 Starbucks stores on street corners across America. While mobile payments have a long way to go, this is the clearest sign yet of their mainstream inevitability.
I’m a Digital Strategist passionate about the intersection between technology and creative marketing. Last year I moved to London after 11 years living in Dubai.