Tag: mobile apps

The coffee chain giant will now be accepting WeChat smartphone transactions to pay for purchases.

The Starbucks QR code based payments are now being accepted in Chinese locations. The coffee chain announced that WeChat users will now be able to pay for their food and beverage purchases with the mobile app’s Weixin Pay.

The initial introduction of the QR codes will include around 2,500 of the company’s Chinese cafes.

To use the Starbucks QR code, customers must simply scan the code at the checkout counter. This is completed through Weixin Pay. The mobile payments technology makes it possible to carry out the entire transaction over the smartphone.

Customers will be using mobile payments at Starbucks as a result of a new agreement between the café and Tencent Holidings Ltd. This makes the coffee chain only the latest fast food company to offer Chinese consumers a mobile wallet payment option.

The Starbucks QR code has already proven to be very popular in other countries including the United States.

In China, mobile payments are becoming increasingly commonplace. Disney, KFC and Uniqlo already offer m-payment opportunities in their Chinese locations.

At the moment, there are approximately 200 million Chinese consumers using Weixin Pay and Alipay – Weixin’s rival owned by Alibaba Group Holdings Ltd. Consumers have embraced the technology due to the checkout speed it offers in-store.

That said, as popular as mobile payments are becoming in China, many foreign retailers are hesitant to introduce them. The main worry is regarding a customer privacy breach through the data collected during the transaction.

According to China Market Research Group managing director Shaun Rein, “Accepting mobile payment would unlock massive value for Starbucks.” He also added that “Since they couldn’t move customers through the line faster, they were losing 5 to 10 percent of business.”

The Starbucks QR code will provide precisely that opportunity. Customers can step up to the counter, order their beverage and scan the quick response code to verify and complete the transaction. This will also help to boost its strength in the competition with its top rival Costa Coffee. That company has been accepting mobile payments for more than a year.

As the Modi government forces a more cashless society, consumers have skipped plastic in favor of apps.

In India, Prime Minister Modi’s government suddenly eliminated two of the most commonly used monetary notes, providing a huge opportunity for the MobiKwik mobile wallet. As the country scrambles to ensure they have enough cash in their hands, mobile payments have become a fast alternative.

As a result, MobileKwik saw a sudden rush of new users, totaling 2 million in under 2 days.

The MobiKwik mobile wallet was already the largest in India. It saw the opportunity and rapidly launched a lighter version of its app, called the MobiKwik Lite. When it launched, it experienced more than 2 million downloads in less than the first two days. This trend is only expected to continue – though perhaps not as dramatically – as the nation continues its direction toward being cashless.

Without the old Rs 500 and Rs 1000 notes, people rapidly looked to their smartphones to make sure they would have enough money to be able to make payments. The new MobiKwik Lite mobile app was designed to ensure that even the most basic smartphones and limited data connections would support it.

MobiKwik mobile wallet is determined to keep up with demand as more consumers download and sign on.

“We are committed to support the Government of India`s mission of a clean, cashless economy and launched MobiKwik Lite with an objective to help masses across the country go cashless,” said Upasana Taku, one of MobiKwik’s co-founders. Taku went on to say that “So far, we have registered over 20 lakh users and the number is growing significantly by the hour.” Taku pointed out that this high rate of new user sign-ups is a direct illustration that a product that is well timed and designed “resolves a real issue,” and will become a mainstream hit.

This mobile app, which is available in Hindi and English, also makes it possible for users to receive payment requests and send funds by way of SMS. This new lighter version of the MobiKwik mobile wallet is offering all users free bank transfers until March 31, 2017.