TL;DR Breakdown
- Starbucks customers can now mke payments via Bitcoin.
- The coffeehouse company wants to offer customers alternative paymenyt options.
Buy your coffee at Starbucks with Bitcoin
Customers of Starbucks can now pay for items with Bitcoin via Bakkt digital wallet. Micheal Gavin, the Starbucks CEO, said that about 500,000 people took part in an invite-only trial before it was launched. To use this service, simply download the app from the Google Play Store or Apple Store and pay for purchased coffee with Bitcoin. Gavin said his company would expand its crypto offering to everyone.
The CEO said that on the average, customers have a couple of virtual assets but lack options to put them to good use. They are excited to offer Bakkt App to their customers in an effort to increase virtual assets access to all their customers.
Other companies join the Bakkt bandwagon
Several other retail shops now accept Bitcoin as a payment option via the Bakkt app. These include Fiserv, Golfnow and Best Buy. Karl Helbert of Starbucks, said his team worked on this project closely with their counterparts from on how to create a trusted and personalized payment option that would help the customers make the most out of their digital assets via USD. He said customers can now use Bakkt app to fund their account and make payment at the coffee shop.
The Senior VP at Golfnow said his company is looking forward to providing multiple payment options for their customers. That is why partnering with Bakkt would enable them offer their over 3.5 million members with alternative payment options. Members now have the opportunity to change their virtual assets – crypto, unused loyalty points, gift cards etc. into golf rounds.
Starbucks is the biggest coffeehouse chain in the world with more than 30,000 locations across the globe. Starbucks annual revenue is in the region of $26.50 billion.
