Square has built its reputation as a quick and simple way for micro-merchants to accept card payments, but the company says it has proven it can serve the more demanding needs of larger retailers.

When Starbucks invested in Square last year and agreed to use Square's processing services, the coffee giant chose not to use Square's hardware, a decision that seemed to indicate Square's product was not ready for such a large client. However, Starbucks didn't need new point of sale hardware — what it needed was analytics.

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