Starbucks Sees Success With Mobile Payments
NEW YORK -- In January, Starbucks began accepting mobile payments via the Starbucks Card Mobile iPhone and BlackBerry applications at 6,800 company-operated stores, and has since processed payments from more than 3 million using the mobile app, according to a USA Today report.
Chairman and CEO Howard Schultz shared the results with shareholders during the company's Annual Meeting of Shareholders in Seattle.
"Starbucks now offers the nation's largest mobile payment network," vice president of Starbucks Brady Brewer added later in the meeting, according to the report.
The program was piloted at select stores in September 2009 and the company found it was the fastest way for a customer to pay, USA Today reported. The mobile payment system allows customers to hold up the app's barcode to the in-store scanner at the register to pay.
Additionally, Schultz reported that the past financial quarter was the best performing in the 40-year history of the company, and Starbucks cards now account for 22 percent of all transactions, the report stated.