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Zero to 3 million in 2 months: the speed of mobile payments!

POSTED BY Global Administrator
Yes folks - that's how fast it can get! I'm referring here to how many Starbucks customers have paid for their drinks with the Starbucks mobile bar code app since launch in January. In my January blogpost I did say words along the lines of "extensive rollout here" but the reported 3 million is impressive going indeed! I guess it's too soon to figure out which type of take-up curve we're looking at here. So either the rate has already peaked and is on its way down, or, it is still building up to its peak. But whichever it is, this is a remarkable rate. I'm not party to how many customers Starbucks has, but I can calculate this is approximately one percent of all Americans. It's indicative of the potential of the mobile device as a wallet. Imagine if your tickets were in your mobile wallet as well. It's a much stated mantra, but the key for users is convenience with all these mobile commerce applications. The high growth though also explains why major ecommerce players like Google and cellphone operators like Verizon Wireless, AT&T and T-Mobile via Isis are all excited about the opportunities. I sense further exciting developments as 2011 progresses.....