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December 21, 2012

Starbucks Prepaid Mobile App users grow 23%

The coffee chain has processed more than 42 million m-payment transactions since its Mobile Pay platform was launched in January 2011.Starbucks customers had initiated some 26 million mobile transactions since the application officially launched in January

Starbucks CEO: Mobile Payment Signals Seismic Change In Consumer Behavior - PaymentsSource Article: One of the biggest champions of mobile payments so far comes from an unlikely sector–the coffee industry.

Starbucks  has been a pioneer and an innovator on Mobile marketing and has shown how the emergence of mobile payments is part of a “seismic change” in consumer behavior that played a key role in the Seattle-based coffee marketer’s record revenues in 2012

Reflecting on the success of Starbucks’ mobile-payment applications for iPhone and Android introduced last year, Schultz deemed it indicative of “the unbelievable way in which mobile payment and mobile commerce is going to change the way in which consumers buy things.”

Starbucks customers during December loaded $500 million into their Starbucks prepaid card accounts, which encompasses mobile-app users, up 23% compared with the same month a year earlier.

 One in four customers pays with a prepaid Starbucks card, and the firm now has 3.7 million members in its My Starbucks rewards program, comprised of customers that reload funds into prepaid card accounts and pay for Starbucks products using the cards or mobile apps.