Mobile Payments At Starbucks Explode In 2013, Passing The $1 Billion Mark
Starbucks drove over $1 billion in mobile payment revenue in 2013, according to BI Intelligence estimates. These are in-store transactions that Starbucks customers complete by using their phones at the register.
Here are the key takeaways:
During the fourth quarter, Starbucks's mobile payment volume reached $340 million, according to our estimates. For full-year 2013, Starbucks stores channeled $1.1 billion in mobile payments, which we define as transactions at physical locations assisted by mobile devices on the consumer or merchant side.
Starbucks mobile payments averaged 5 million per week in the U.S. and Canada in the fourth quarter of 2013, more than double the 2.1 million per week rate in the fourth quarter of 2012. That translates to roughly 60 million mobile payments during the fourth quarter, up from 25.2 million in the fourth quarter of 2012, for 135% growth year-over-year. ...