Starbucks: Pay for coffee with your smartphone

From ABC News

You could soon pay for your Starbucks by walking into a store with your smartphone and giving the cashier your name.{}{}

The company has announced a deal with SQUARE, a payments startup.{}

The deal is{}interesting because Starbucks already operates the most widely used mobile payment app in the world.

Customers will be able to load money onto their Starbucks mobile app.

This new way of paying cuts down on transaction fees from credit card companies, helping Starbucks' profit margin.