Square and Starbucks Strike Strategic Partnership

Square and Starbucks have announced "a broad innovative partnership to bring the best possible payment experience to both sides of the Starbucks counter." The key partnership terms include:

• Starbucks will deploy Pay with Square in U.S. Starbucks stores this fall

• Square will process Starbucks U.S. credit and debit card transactions

• Starbucks will integrate the Square merchant directory to various Starbucks digital platforms, including the Starbucks Digital Network and eventually the Starbucks mobile payment application

• Starbucks will invest $25 million in Square as part of the company’s Series D financing round

• Starbucks chairman, president and CEO Howard Schultz will join Square’s Board of Directors