Credit card hackers are targeting Starbucks gift card and mobile payment users around the country – and stealing from consumers’ credit cards — with a new scam so ingenious they don’t even need to know the account number of the card they are hacking.Criminals are using Starbucks accounts to access consumers’ linked credit cards. Taking advantage of the Starbucks auto-reload function, they can steal hundreds of dollars in a matter of minutes. [Read more…]
Due in part to its Mobile Payments and Loyalty program, Starbucks reported a stunning 2015 First Quarter profits, with an 18% jump in revenue to $4.6 billion, to beat expectations while profit jumped 16 percent.
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Starbucks created a lot of buzz about mobile payments when the company release it’s popular mobile payment app in 2011, and indeed Starbucks was on the vanguard of consumer retail mobile payments. And by most measures the Starbucks app should be considered a success. CEO Howard Schultz told investors during a recent earnings call: “Today in the U.S. alone over 13 million customers are actively using our mobile apps and we’re now averaging over 7 million mobile transactions in our stores each week, representing roughly 16% of total tender, more than any other bricks and mortar retailer in the marketplace.” That’s impressive.
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Mobile Payments: Revenue Models and Market Strategies,” a Thematic Research Report by Pyramid Research, examines the predominant service and revenue models in the mobile payments arena, as well as the market approach of selected players, in order to identify effective strategies and key success factors. The analysis is built upon in-depth case studies of selected mobile payments services around the world, including Alipay Wallet, Boku, Dwolla, LevelUp, RURU, Paym, Starbucks and Apple Pay.
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A new report entitled Mobile Wallets: The U.S. Landscape by Mercator Advisory Group identifies U.S. mobile wallets by category and technology.
The physical wallet might someday go the way of the checkbook, used by few and no longer a necessity. Growing consumer use of smartphones is creating a market for mobile wallets capable of serving many of the same purposes physical wallets served for centuries but now are able to take advantage of a plethora of new functions made possible in an increasingly digital marketplace. [Read more…]
A new research report from Research & Markets entitled Opportunities and Strategies for Credit Issuers, examines mobile payment opportunities For US credit issuers.
The major card networks began supporting contactless payments nearly a decade ago, but consumer and merchant adoption has lagged considerably. Several startups, as well as established firms outside of the financial services industry, are marketing enhanced mobile payment services capable of causing significant disruption to the consumer payments value chain. [Read more…]
Mobile wallets are being introduced to the market in a steady stream of configurations from passive containers to dynamic payment products. Companies large and small are vying for a piece of a future market. Along the way, these emerging payment forms are reshaping traditional business models and impacting traditional acceptance brands.
In a new research report, Mobile Wallets: The Business and the Brand, Mercator Advisory Group applies a business model canvas approach to analyze examples of developing mobile wallet types based on first-person interviews with the leaders of these companies. In addition, this report breaks apart the impact of branding based on different mobile wallet structures to discuss the effect on traditional payment brands as well as the challenges new acceptance marks face in the market. [Read more…]
As excitement surrounding mobile payments develops, most of the focus has been placed on the wallet apps such as Google Wallet and Isis jockeying for position. However, the success of a mobile payments system will depend on far more than which piece of software will be used on the most devices. A fully functional system will require the integration of a number of different factors, including POS terminals, processing, the devices themselves, and more. [Read more…]
Starbucks (NASDAQ:SBUX) today announced the continued global expansion of the Starbucks mobile platform with the roll-out of Starbucks® app for Android™ to the United Kingdom and Canada. In addition, U.S. customers who download or update to the official Starbucks® app for Android™ will be able to experience new enhancements including a widget, PayPal™ support, PIN code protection, and viewing the My Starbucks Rewards™ history dashboard.
“The expansion of our mobile payment footprint to two of our most important markets is a strong milestone for us, but more importantly, it extends the number of customers who now have a faster and easier way to pay at Starbucks,” said Adam Brotman, chief digital officer at Starbucks Coffee Company. “We are thrilled to extend mobile payment capabilities to Android smartphones in the UK and Canada and enhance the experience in the U.S.”
Customers who download the official Starbucks® app for Android™ in Canada and the UK will now be able to access a range of features including Starbucks Card mobile payment, store locator, My Starbucks Rewards™ stars, check balance and reload, PIN code protection, widget and balance transfer capabilities. Through the Starbucks® app for Android™ expansion to the UK and Canada, Starbucks mobile payment will now be accepted at nearly 14,000 Starbucks locations worldwide.
Starbucks® App for Android™ Features:
Starbucks® app for Android™, available on Google Play, is available for phones running Android™ 2.2 or above and is designed to offer a rich user experience. Starbucks® app for Android™ allows customers in the U.S., UK and Canada to:
Source: Starbucks
Venmo was founded by under 30-year-old entrepreneurs Andrew Kortina and Iqram Magdon-Ismail in Philadelphia. Fewer people carry cash these days and Kortina and Magdon-Ismail saw this as an opportunity to tackle the simple problem that comes with paying back friends and family while on-the-go. Venmo lets friends pay each other back for anything – lunch, dinner, drinks, rent, groceries, tickets, trips – whatever. It works with all the major banks in the US, like Bank of America, ING, Chase, Wells Fargo, Citi, etc., making it very easy for users to adopt.
Overview of Mobile Payment options:
Red full article, via Tech Cocktail.
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