“Starbucks is winning the in-store mobile-payments war, beating tech heavyweights Apple, Google, and Samsung Electronics at their own game,” Jon Swartz reports for Barron’s. “The cafe chain’s mobile-payment service will be used by 23.4 million Americans this year, edging Apple, with 22 million. Alphabet’s Google unit, with 11.1 million users, and Samsung, with 9.9 million, lag far behind, according to an eMarketer report released today.”
“Starbucks’ app has resonated with its loyal customers, who can monitor and manage their card balance and star rewards,” Swartz reports. “Starbucks’ success in mobile technology highlighted otherwise uneven first-quarter results and its stock has slumped 8% over the past year. This year, Starbucks shares are down 0.7%.”
“EMarketer expects Starbucks to slightly lengthen its lead over the next few years, to 29.8 million Americans by 2022, compared with 27.5 million for Apple Pay, 14.9 million for Google Pay, and 13.2 million for Samsung Pay,” Swartz reports. “Some 55 million Americans now use [in-store mobile-payments], compared with just 2.7 million in 2011, according to eMarketer. An estimated 74.9 million Americans will use mobile devices for payments in 2022, eMarketer estimates.”
Read more in the full article here.
MacDailyNews Take: Sounds like eMarketer forgot to factor into their projections Starbucks’ new “nonpaying customers” and how they’ll potentially affect actual paying customers.
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