Connect with us

archive

Cashless Consumption Is Ready for Liftoff

Subscribers to my investment newsletter PowerTrend Profits have heard me mention this subject more than a few times while we were invested in Starbucks (SBUX). I’m not referring to the return of more than 40% that they earned holding SBUX shares — that is something to talk about — but I’m referring to the Starbucks App. It’s one of my favorite apps, if not my most favorite. You might be wondering why. The app allows me to pay for coffee with my smartphone and, because it is linked to my credit card, can top off my account whenever I need it. It also keeps track of my reward points and lets me download all sorts of free digital content from Starbucks — music, games and more from Apple’s (AAPL) iTunes store.

All in all, it is pretty slick. If you’ve been in line at any Starbucks location, I bet you have seen someone pay for coffee and other items with a smartphone. What’s amazing to me is you can leave home without your wallet and still manage to get a good cup of coffee. It sounds like American Express will need to change its one infamous tag line, “Don’t leave home without it.”

With mobile payments accounting for almost 15% of Starbucks payments, I’m not surprised by the recent news that many other companies are jumping on the mobile-payment bandwagon. Some companies, like Papa Johns, Domino’s, Chipotle Mexican Grille, Five Guys and others, already have apps that allow you to order while on the go, but these new entrants would also let you pay from your smartphone. During the last week, both Burger King and Wendy’s (WEN) announced they too will be accepting mobile payments, while McDonald’s (MCD) is testing mobile payments.

Read more about how cashless consumption is becoming more important at Eagle Daily Investor.

Newsletter Signup.

Sign up to the Human Events newsletter

Advertisement
Advertisement

TRENDING NOW:

The New Aylan Kurdi.

U.S. POLITICS

No Bregrets: Brexit More Popular Than Ever.

FOREIGN AFFAIRS

Drag Queen Reading Hour Can Be Stopped.

CULTURE

Google Calls Jordan Peterson, Ben Shapiro Nazis Google Calls Jordan Peterson, Ben Shapiro Nazis

Did Google Just Admit to Being a ‘Nazi’ Collaborator?

TECH

archive

Cashless Consumption Is Ready for Liftoff

If youâ??ve been in line at any Starbucks location, I bet you have seen someone pay for coffee and other items with a smartphone. Whatâ??s amazing to me is you can leave home without your wallet and still manage to get a good cup of coffee.

Subscribers to my investment newsletter PowerTrend Profits have heard me mention this subject more than a few times while we were invested in Starbucks (SBUX). Iâ??m not referring to the return of more than 40% that they earned holding SBUX shares — that is something to talk about — but Iâ??m referring to the Starbucks App. Itâ??s one of my favorite apps, if not my most favorite. You might be wondering why. The app allows me to pay for coffee with my smartphone and, because it is linked to my credit card, can top off my account whenever I need it. It also keeps track of my reward points and lets me download all sorts of free digital content from Starbucks — music, games and more from Appleâ??s (AAPL) iTunes store.

All in all, it is pretty slick. If youâ??ve been in line at any Starbucks location, I bet you have seen someone pay for coffee and other items with a smartphone. Whatâ??s amazing to me is you can leave home without your wallet and still manage to get a good cup of coffee. It sounds like American Express will need to change its one infamous tag line, â??Donâ??t leave home without it.â?ť

With mobile payments accounting for almost 15% of Starbucks payments, Iâ??m not surprised by the recent news that many other companies are jumping on the mobile-payment bandwagon. Some companies, like Papa Johns, Dominoâ??s, Chipotle Mexican Grille, Five Guys and others, already have apps that allow you to order while on the go, but these new entrants would also let you pay from your smartphone. During the last week, both Burger King and Wendyâ??s (WEN) announced they too will be accepting mobile payments, while McDonaldâ??s (MCD) is testing mobile payments.

Read more about how cashless consumption is becoming more important at Eagle Daily Investor.

Newsletter Signup.

Sign up to the Human Events newsletter

Written By

Chris Versace is a financial columnist and equity analyst with more than 18 years of experience in the investment industry. He has been ranked an All Star Analyst by Zacks Investment Research and his efforts in analyzing industries, companies and equity securities have been recognized by both Institutional Investor and Thomson Reutersâ?? StarMine Monitor. Heâ??s frequently published in The Washington Times and is a frequent contributor to the daily radio show â??Americaâ??s Morning Newsâ?ť and â??Americaâ??s Radio Newsâ?ť. He has been quoted in the Wall Street Journal, Investorâ??s Business Daily, The Street, USA Today and other publications. In addition, he can be frequently seen on televisionâ??s â??Fox Businessâ?ť show.

TRENDING NOW:

The New Aylan Kurdi.

U.S. POLITICS

No Bregrets: Brexit More Popular Than Ever.

FOREIGN AFFAIRS

Drag Queen Reading Hour Can Be Stopped.

CULTURE

Google Calls Jordan Peterson, Ben Shapiro Nazis Google Calls Jordan Peterson, Ben Shapiro Nazis

Did Google Just Admit to Being a ‘Nazi’ Collaborator?

TECH

Connect
Newsletter Signup.

Sign up to the Human Events newsletter