Will Square’s Starbucks Deal Spark the End of Cash?
Last week, Starbucks invested $25 million into the start up business, Square. For those unfamiliar with Square, it’s a credit and debit card reading device that attaches to cell phones. With each mobile transaction, Square collects 2.75%. According to the article, “Will Square’s Starbucks Deal Spark the End of Cash?,” by Peter Cohan, Square is now valued at $3.2 billion and will soon be processing payments at 7,000 Starbucks locations across the US.
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