It’s a dash among banks, card companies, tech titans and startups to finding the right mobile wallet recipe. Starbucks found a key ingredient and it’s not about payments.

In this Forbes-article we learn that even though Starbucks’ mobile app is the most used digital payment app in America (10 million customers pay for their lattes with the app), the app is much more about customer experience and relationship.

Customer loyalty programs, earning and redeeming points, offering discounts and so on, adds much more value than just replacing that credit card swipe which is not much of a hassle anyway.
Mobile wallet projects need a broader ecosystem approach to succeed. Exclusive payment focus will just get in the way of getting the cake baked the way the customer wants it.

 

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