Starbucks's Mobile Payment Transaction Volume Explodes To Over $270 Million
Starbucks CEO Howard Schultz announced during the company's last earnings call that in-store transactions made with Starbucks's mobile wallet accounted for 11% of Starbucks's North American transaction volume in the third quarter of 2013.*
Here are the key takeaways:
During the third quarter, Starbucks's mobile payment volume reached $272 million, according to a conservative BI Intelligence estimate.
That's up 88% from the fourth quarter of 2012 when Starbucks first reported the number of mobile transactions.
Mobile payment transactions averaged 4 million per week in the third quarter, up from 2.1 million per week in the fourth quarter of 2012.
That averages out to 48 million payments during the third quarter, up from 25.2 million in the fourth quarter of 2012. ...