During the Starbucks Annual Meeting of Shareholders yesterday, CEO Howard Schultz revealed an impressive statistic: the coffee chain’s new mobile payment app has been used more than 3 million times since it debuted in late January. When downloaded onto a user’s smartphone, the app turns your device into a credit card of sorts that can be swiped at a register.
Starbucks is at the forefront of the mobile payments trend, which may transform the way consumers pay for goods in the coming years. Most phones and tablets are now being built with mobile payments in mind; the New York Times reports that Apple, Google and Nokia are all adding near-field communication chips (which would transmit payment information) to their newest models.
The speed and sheer number of users who have downloaded and used the Starbucks mobile payment app indicates that the general public is excited about this new technology. We’re sure it won’t be long before many other big businesses follow in Starbucks’ footsteps.
Image via Reuters