Photo: The Crypto Sight
Starbucks keeps up with the times by providing its customers with more payment options. Clients of the company will be able to refill their card with several cryptocurrencies, including Bitcoin, Ether, and others.
The largest coffee chain in the world—Starbucks—reported on revenue of $8.15 billion in fiscal Q4. During the teleconference, President and Executive Director Kevin Johnson explained that, in order to improve its performance, the company is expanding its presence in the field of digital assets through PayPal and Bakkt. Through this collaboration, customers will be able to refill their Starbucks card with several cryptocurrencies, including Bitcoin, Ether, and others, converting digital currencies into physical currency, said Johnson.
He also talked about using blockchain technology to improve digital services, empowering customers to share value between brands, engage in more personalized experiences, and redeem other loyalty points for stars at Starbucks.
The coffee giant has been testing a cryptocurrency payment app via Bakkt for a while, and announced in April that customers can use Bitcoin payments through its platform to fund Starbucks cards. Using digital capabilities, Starbucks increased the number of active Starbucks Rewards members over a 90-day period by approximately 30% to 24.8 million members.
© 2021, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.
