Starbucks Accepts Bitcoin in Its American Branches
Starbucks will facilitate word-of-mouth marketing by offering discounts and special programs to customers interested in Bitcoin and thus the rate of those who would turn to Bitcoin and Bitcoin shopping, at least for the sake of the rewards, will increase.
It has been some time that we hear the name of the well-known brand Starbucks in crypto-related news. The Starbucks franchises have been trying to use cryptocurrencies as a payment tool. It seems that the wait is over, and this feature is completely possible for Starbucks customers who buy coffee from American branches. This plan was introduced in early 2018, but since Bitcoin and other cryptocurrencies did not have a good run in the last year, this project was put aside and delayed. However, with another boom in the world of cryptocurrencies and Blockchain, Starbucks has resumed its project.
What Platform Does Starbucks Use?
Along with Microsoft and Boston Consulting Group, Starbucks intends to use and support the cryptocurrency payment platform BAKKT. This measure taken by the popular franchise, Starbucks is an important help in turning actual money into cryptocurrencies and using them in a tangible way and can greatly help the development of cryptocurrencies in the digital world. One of the main concerns in using cryptocurrencies is that who is paying the money. In fact, there is still some weakness in the payment systems. In order to fully realize the use of cryptocurrencies, there needs to be wallets through which users would be able to make payments.
The fact of the matter is that creating a mechanism for easy payment and managing things with the help of different cryptocurrencies is not difficult. As a result, measures such as using Bitcoin by Starbucks and other retailers are a positive advertisement in promoting the status of cryptocurrencies and will facilitate the process of their development.
Will Bitcoin Payment in Starbucks Be Met with Enthusiasm?
Starbucks has about 27,000 branches in different places of the world. The stores of this brand have about 500 customers each day. This means that in total, about 13,500,000 people go to different Starbucks branches on a daily basis and lead to an annual income of $25 billion. From this considerable number of customers, even if one percent uses Bitcoin to pay for their coffee, it will lead to a huge amount of income for Starbucks. If this brand dedicates some rewards and scores for those customers who use cryptocurrencies (which it surely will), the percentage of people interested in this payment method will increase. For businesses such as Starbucks that are directly in contact with the end users, the best way of advertisement and marketing is word-of-mouth marketing.
In word-of-mouth marketing, customers suggest the use of services or products to each other. Starbucks will facilitate word-of-mouth marketing by offering discounts and special programs to customers interested in Bitcoin and thus the rate of those who would turn to Bitcoin and Bitcoin shopping, at least for the sake of the rewards, will increase.