I, for one, have never liked carrying or using cash. It's bulky, hard to track and just sort of seems old-fashioned to me. I usually use credit cards for purchases big or small, but I would even be happy to see those left at home if the concept of mobile payment became a little more developed. Well, as reported by the NYTimes on August 8th, we might be one big step closer to that day.
Developed by Twitter founder Jack Dorsey, Square is a company that specializes in mobile payment. Square recently announced plans to partner with Starbucks to process all credit and debit transactions for the coffee giant, a move that will seriously increase the influence and ability of the small tech start-up. Eventually, once the concept has matured, customers will be able to purchase their drinks without even taking their phones out of their pockets. The Starbucks location itself will actually RECOGNIZE that the customer has entered, based on the GPS functionality in his or her mobile phone. Pretty cool stuff!
I think this is an incredibly exciting development for mobile technology and I'm really looking forward to seeing how it plays out. The implications that the success of a product like this could have on society as a whole are enormous. It's world-changing stuff here! I also think it's a brilliant move on Starbucks' part, as this partnership positions them as cutting-edge and very tech savvy. If you'd like to read a bit more about the Starbucks/Square partnership, check out this like to the NYTimes:
http://www.nytimes.com/2012/08/08/technology/starbucks-and-square-to-team-up.html/?_r=2&adxnnl=1&adxnnlx=1345057361-i37eMqsXk3QdmNjZ/8hhQg
1 comment:
This thing seems great. I wonder if it will be bought by a credit card brand (MC, Visa, Amex, etc), or if they will introduce their own. Square seems to offer high rates, so if the card companies can offer the product for the same rate as a traditional card swipe, that would be a huge game changer.
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