Starbucks has just announced a partnership with Square to accept mobile payments via the Pay with the Square app. It's big news for Square, who currently processes transactions for some 75,000 merchants. And getting one of the largest coffee chains to integrate that into their payment system is a huge advantage.

Square CEO and Twitter founder Jack Dorsey and Starbucks CEO Howard Schultz answered questions about the partnership's importance. The rollout will bring Square payments to 7,000 Starbucks stores in the U.S., and the discussion has also touched on other areas of expansion for the mobile payments company. Will Square payments be accepted in other markets as well?

Pay with Square is only available on iOS and Android at the moment, but a Windows Phone app could be in the making if there are users for it.

Starbucks, which has 18,000 stores in 60 countries, would certainly be a natural partner in any overseas plans.