Now a multi-billion dollar business, Starbucks’ mobile payment app is processing more than 4.5 million transactions a week, the company says, despite its humble origins as a way to reduce customer wait times at stores.
Speaking at the Sanford C. Bernstein Strategic Decisions Conference, president and CEO Howard Schultz said he expects adoption to further increase as the card expands into grocery stores and the way in which customers use mobile phones continues to evolve.
“Basically over this past year and a half, we’ve noticed a seismic change in consumer behavior and that seismic change primarily is due to social and digital media and the rising tide of mobile phones replacing desktop computers,” Schultz said.
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