Posted by: kelseyhelgeson | January 28, 2011

iBucks for Starbucks?

Last Wednesday, Starbucks announced that it would begin allowing customers to pay for their drinks using iPhones and other smart phones.

In my opinion, this is an amazing new tool. I never carry cash anymore. Half the time I forget my wallet and credit cards at home. But what is glued to my side at all times? My iPhone.

Having the option to pay for goods and services via smart phone is another way companies are meeting the consumer on their terms. Starbucks estimates that a third of its customers are using smart phones. That’s a huge demographic, and Starbucks knows it. By being one of the first companies to use this technology, Starbucks is also receiving lots of press and attention — always a good thing.

I predict that more and more companies will follow Starbuck’s lead and begin using iPhone as payment options.

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Responses

  1. I am in love with this! I agree, I never have cash and sometimes forget my wallet but always have my iPhone. I think this is a great first step Starbucks is taking and that others will follow. Japan already does something similar to this as they use their cell phones as wallets too.

  2. This is crazy, but a great thing! Being a guy, I hate to carry around my wallet and try to stuff cash in it while holding a drink and a rush of people behind me. It would make life a little easier if I could just have one thing in my pocket to do it all! When is the campus one making the switch? I don’t drink much coffee but would love to see how it works.

  3. I think this is a crazy yet wonderful idea. I looked into it more and it seems that more and more businesses are going to be using smart phones instead of credit cards. A consulting firm called Mercatus LLC predicts that 80% of people ages 18-34 will use mobile financial services within 5 years. That number is huge and if it stands true then credit cards could possibly be history. I did find an article about the downfalls of this new idea. The main ones were privacy issues and theft. Hackers are going to move from hacking personal information from computers to hacking personal information from smart phones. Also, now if you lose your phone or it gets stolen, it’s like losing your wallet as well and thieves could really do some damage if they get a hold of your phone.

    http://www.networkworld.com/news/2010/080310-smartphone-credit-cards.html


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