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Silicon Valley rapidly is becoming the epicenter of the mobile payments industry, where attention-grabbing venture capital deals—such as Starbucks Corp.’s $25 million investment in Square Inc. in August—have triggered fresh streams of venture capital flowing into mobile payments, particularly with companies connected to California’s technology hub.

They didn’t go out trying to create a new currency; Square simply decided to make it easier for all types of merchants to accept payments so they could bring new players into the field.

PayBefore, November 12, 2012