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Starbucks Continues to Dominate Mobile Payments
November 7, 2012
The Starbucks mobile payments app now is being used more than 2 million times per week, on average. Consumers have conducted more than 100 million total transactions since its introduction.
From Mobile Payments Today:
"We believe the rapid adoption of mobile gives us an opportunity to create a unique and much deeper relationship with our customers directly and in the moment like no other consumer brand or retailer," [CEO Howard] Schultz said on the call. "We have the unprecedented ability to reach new customers, create awareness to new products, drive incremental transactions and explore new revenue streams in music and digital publishing.”
Although this sounds impressive, and in many ways it is, Starbucks served more than 3 billion customers in 2012. A large reason for Starbucks’ early success is its enormous customer base. Very few retailers have the relationship Starbucks does with so many consumers, putting it in a unique position to take advantage of the benefits of mobile payments.
That said, Starbucks has proved itself an innovator on the mobile platform, and continues to live up to that reputation. This can be seen with the upcoming integration of Square Wallet into its payment mix, which will enable even more Starbucks mobile transactions.
to read more from Mobile Payments Today.
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