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29 Mar

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More Good News for Mobile Payments

March 29, 2011 | By | No Comments

Last week Starbucks announced that more than 3 million people have paid using Starbucks Card Mobile. It was just January when Starbucks began accepting mobile payments on the new application for iPhone and Blackberry at 6,800 company-operated stores.

Reported on USA Today, Starbucks chairman and CEO Howard Schultz made the announcement to shareholders during the Starbucks Annual Meeting of Shareholders at Marion Oliver McCaw Hall in Seattle. “Starbucks now offers the nation’s largest mobile payment network,” was said by Starbucks vice president Brady Brewer.

Starbucks is just one example of the new era of mobile payments. The next big wave will hit when the use of near-field communication (NFC) becomes more available. NFC is when you hold your credit card a few inches from a swipe machine. Visa is testing this technology on smartphones.

If you need some more stats to show mobile’s continuing growth, consider these points by Lauren Maynard of Capture The Conversation:

  • Smartphone penetration in US mobile users is already at 33% and growing rapidly
  • Ebay is reporting 1 mobile transaction every second. This isn’t just for small purchases; this includes Ferraris
  • Apps like Foursquare and Groupon have already gotten consumers comfortable with incorporating a phone into a point-of-purchase experience
  • In a survey by NACHA and PayPal, 27% of people said P2P payment through mobile (via banking services or PayPal) was important to them

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