Tag: howard schultz

Starbucks could license off its mobile payments technology to retailers

Starbucks continues to see major success in the mobile commerce space

Starbucks has found a great deal of success in the mobile commerce space. The company’s partnership with payments processor Square has been quite lucrative and has given Starbuck’s some ideas for the future. The company recently announced plans to begin selling alcohol and hot food at thousands of its stores in the near future, while also unveiling plans to further expand its Teavana chain. In the mobile space, Starbucks has plans to begin expanding its payments technology beyond its own family of stores.

Company believes that licensing its technology could help retailers engage mobile consumers more effectively

Starbucks CEO Howard Schultz notes that the company has managed to establish a very powerful position in the mobile commerce sector. The company has managed to succeed with mobile payments where others have failed. Many retailers have been struggling to engage mobile consumers through new commerce channels, but none have yet managed to have the impact that both Starbucks and Square have had. Starbucks may be in a position to assist retailers by licensing off its mobile payments technology.

Starbucks generates $1 billion from mobile payments in 2013

Mobile Payments Technology Licensed to other RetailersSince partnering with Square in 2011, Starbucks has seen a 14% increase in mobile payments throughout its stores in the U.S. In 2013, it was estimated that the company generated more than $1 billion in revenue just from mobile transactions. Nearly 10 million customers have downloaded the company’s mobile commerce application, with 8 million people taking advantage of the loyalty rewards being offered by the application. In licensing its technology to other companies, Starbucks may be able to help retailers engage mobile consumers more effectively.

Starbucks is likely to continue seeing success in the mobile field by addressing consumer concerns

Starbucks has managed to avoid some of the pitfalls that exist in the mobile commerce sector thanks to its partnership with Square. Security and efficiency are two issues that many consumers have problems with when it comes to mobile payments. Starbucks has managed to address these issues quite effectively, providing consumers with a comprehensive service that provides them with more convenience.

Starbucks mobile payments application reaches new heights

Mobile payments prove beneficial for Starbucks

Mobile payments have managed to receive the full approval of Starbucks as the company’s customers continue to express their favor for the company’s services. Starbucks is a relative newcomer to the field of mobile commerce, having only truly embraced mobile payments in 2012. The company teamed with Square to launch its mobile payments initiative and has been seeing a great deal of success among consumers since then. Consumers claim that the company’s services offer a more convenient way to purchase products.

Application now processes more than 4 million transactions every week

Starbucks CEO Howard Schultz notes that the company’s mobile payments application now processes more than 4.5 million transactions per week. This is monumental growth from the few thousand transactions the application had been processing shortly after its launch. The application has humble beginnings, with its primary purpose having been to reduce the wait times consumers experiences in the company’s stores. Now, the application exists to promote mobile commerce among consumers.

Mobile Payments at StarbucksConsumers are growing more accommodating of mobile commerce

Commerce has been changing in the U.S. More consumers are becoming enthralled by the idea of mobile payments and are showing that they are eager to use their mobile devices to purchase and pay for products of all kinds. Starbucks has taken note of this change in consumer behavior and has been working to meet the changing needs and interests that consumers have in the mobile space.

US companies continue growing more involved in mobile commerce

Starbucks is one of several companies that have been growing more involved in the mobile payments field. Many U.S. consumers have responded well to the company’s mobile commerce initiative, which has encouraged the company to expand its efforts in the mobile commerce field to continue engaging consumers in a more dynamic fashion. Starbucks expects to continue seeing the number of transactions it processes through its mobile application grow steadily in the future.