Starbucks Replaces Square With JPMorgan Chase

October 22, 2015

The colossal bank will handle the coffee company’s payment processing.

After ditching San Francisco-based startup Square, Starbucks is moving on to a more established player for its payment processing. Going forward the coffee giant will use Chase Commerce Solutions, a division of JPMorgan Chase & Co., according to an announcement Thursday.

Starbucks president and COO Kevin Johnson said the deal “lays the foundation for a coming wave of innovation in our digital payment ecosystem.” The Seattle coffee behemoth first announced it would drop Square late last year, and then officially severed ties earlier this month. With Starbucks launching its own mobile payment system and rolling…