Starbucks backs Square: Yet another way of paying with your phone
Starbucks have invested £16m into Square, another electronic payment service, but this one is founded by Twitter co-founder Jack Dorsey. Pretty much all Starbucks in the US will be accepting payment via this new service, which sees cards getting slotted into a small device connected to a smartphone. It'll be rolling out everywhere else, soon.
Soon, the high street will have so many different payment systems via smartphones that we won't know our arses from our elbows and we'll all shout angrily at our phones at the huge number of apps eating all our memory as we have download them all to make our phones compatible with the highstreet.
In a letter posted to Square's website, chief executive Mr Dorsey said the deal would help "accelerate" the product. "When Starbucks builds the Square Directory into their apps and in-store Digital Network, it gives Square new visibility, driving more customers to opt-in to Square."
Is a plug-in device better or worse that NFC-enabled devices, which will see customers swiping their phones for transactions?
Either way, it feels like we're all going to have to undergo training courses to get this all clear in our heads.