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What Square’s Starbucks Deal Means For Mobile Payments And An Apple iWallet

What Square’s Starbucks Deal Means For Mobile Payments And An Apple iWallet

Square scored its big partnership with Starbucks by realizing mobile payments aren’t really about mobile payments.

Last week’s announcement that Starbucks is partnering with Square for mobile payments and credit card processing is big news for the nascent U.S. mobile payments market. It was also a warning shot fired by the startup across the bow of traditional payment processing companies, many of which have struggled to bring together an effective and successful digital wallet (or iWallet) solution. The move could also complicate any plans that Apple has to move into that market following the release of iOS 6 and its Passbook feature.

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