Coffee Operators Driving Revenue Through Mobile Payments

There is a definite compatibility between specialist coffee shops and mobile payments due to the fact that their primary product is purchased at such a high frequency. Consumers purchase coffee daily (often multiple repeat purchases per day) and would benefit from a streamlined payment method and loyalty programs such as can be offered by mobile payment solutions. The consumer demographic is also most likely to participate in the mobile payment methods as it consists mostly of young students interested in technology and consumers who have easy access to mobile technologies.

While Starbucks was the first to launch its well-known loyalty program and mobile payment app years ago, third-party mobile payment technologies are now cropping up targeting independent coffee shops to help them drive revenue and better compete with larger chains such as Starbucks. CUPS is one example of a third-party mobile payment apps designed to engage consumers by providing incentives through loyalty programs that offer discounts and special offers based on their purchase history. BeansUP is another recently launched innovative app that allows consumers to set coffee pick-up times; this will allow for an enhanced consumer experience as the product is prepaid and the guest can avoid peak hour lines and pick up their coffee directly at the counter.

The increased demand for efficient, streamlined transactions will only continue to grow and these mobile technologies definitely help meet this need. In order for consumers to adopt mobile payment methods they must first be intrigued by the incentives and sign up for a subscription to their preferred coffee shop’s mobile app. As consumer engagement increases so too will the use of mobile payments and therefore help to drive traffic and revenues.

To read more about these two new innovative mobile payment technologies, click here

 

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