Tag: starbucks mobile commerce

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 leads the way in mobile payments

Starbucks finds success on the mobile payments front

Mobile payments are becoming more common in the U.S., especially as businesses show interest in new forms of commerce and begin catering to consumers with smartphones and tablets. One company has managed to establish a powerful lead on the mobile payments front and may serve as a powerful example of what can be accomplished by engaging mobile consumers. That company is Starbucks, which has been involved in mobile commerce since teaming with mobile commerce firm Square only a few short years ago.

10% of company’s transactions come from mobile devices

Starbucks and Square have developed a mobile payments system that leverages QR codes and, in some cases, NFC technology to allow consumers to pay for products with nothing more than their smartphone or tablet. During the early stages of the company’s endeavor, Starbucks did not expect to see a great deal of support for its mobile commerce initiative. Consumers, however, proved that they were more than willing to embrace the service being offered by the company. Now, mobile payments represent 10% of the company’s total transactions in the U.S.

Mobile Payments at StarbucksConsumers flock to Starbucks’ mobile commerce service

Part of the reason consumers seem to enjoy mobile payments is due to the convenience that it represents. Consumers can pay for nearly anything by simply waving their mobile device at a payment terminal. Starbucks also offers a reward program for those that make mobile payments, further piquing the interest of consumers. The company notes that many of its consumers happen to be tech-savvy individuals that are interested in engaging in new technologies they are not necessarily familiar with. This may be yet another reason why Starbucks has managed to find success in the mobile commerce arena.

Many consumers concerned over security of financial information

While mobile payments have been growing popular in the U.S., many consumers have shown resistance to the idea of mobile commerce. Several platforms designed to cater to this sector, such as Google Wallet, have failed to win any significant support from consumers. Many people cite security concerns for their lack of interest in mobile payments, while others consider mobile commerce to be nothing more than a passing fad.