Starbucks sees mobile and loyalty boost sales; Stripe Adds Sales Tax Through TaxJar Agreement
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Starbucks loyalty program generated 52% of sales in the United States in the quarter ended March 31, with Starbucks Rewards membership increasing from 1 million to 22.9 million and drive-thru accounting for 50% of sales net, Kevin Johnson, president and CEO of Starbucks told analysts. .
Mobile orders accounted for 26% of US store sales, up from 18% a year earlier, and Stars for Everyone – allowing customers to earn rewards through any payment method – drove higher levels of activity across the country. during his first six months, Johnson said. In China, the results of the expansion of Starbucks Now mobile orders to WeChat and Alibaba pushed mobile orders to 34% of sales, up from 30% in the previous quarter, he said.
Starbucks is increasingly relying on artificial intelligence to personalize customer offerings, predict customer traffic and inventory needs as stores around the world slowly begin to return to pre-pandemic levels, according to Johnson.
Bandaged has added several new merchant services over the past year in an effort to grow its customer base by reaching businesses that quickly made the switch to digital during the pandemic.
The company plans to add access to sales tax software by agreeing to purchase TaxJar, which hopes Stripe will handle more than 11,000 different sales tax jurisdictions in the United States, as well as more variance in international markets. . Terms of the contract are not disclosed.
Stripe said one of the top user requests over the past five years has been for sales tax help and that they plan to use TaxJar to provide sales tax rates at checkout, automate the submission of tax returns and remittance of sales tax; and localized compliance.
Mobile payment company HIPS Payment Group and Nordic taxi payment rail The Payment House have teamed up to enable cryptocurrency payments for taxis in Scandinavia and the UK
The payment gateway will debut in a beta test in November and will use the HIPS Merchant Protocol (HMP) and Merchant Gateway (HMP Gateway) on Ethereum. Over 20,000 taxis in Scandinavia and 10,000 in the UK will be covered.
The Merchant Token (MTO) and the USD Coin will be the initial tokens available at launch, and support for other cryptocurrencies will be evaluated after the beta test.
The Golden State Warriors plan to auction off a set of Non-Fungible Memorial Tokens (NFTs), a form of investment that symbolizes something tangible to create a one-to-one form of currency between buyer and seller.
NBA franchise auction includes digital ticket stubs from visual arts studio Black Madre and virtual and physical championship rings, reports Coindesk. The team will donate a portion of the funds to their charitable efforts.
Most NFT sales so far have included digital art and memorabilia such as the classic Time Magazine covers. The concept has potential for more mainstream transactions as the underlying technology allows payments to bypass traditional gatekeepers such as app stores and auction houses.
At least five Major League stadiums have recently added mobile ordering and contactless payments, including Globe Life Field, Progressive Field, Busch Stadium and Dodger Stadium.
Ball parks are speeding up stadium technology to accommodate larger crowds, as CDC guidelines allow more fans at outdoor facilities. The company that provided the technology, Appetize, reports that less than 3% of transactions at the parks since the start of the 2021 season have been made in cash.
The Red Sox’s top minor league club, the Worcester Red Sox, has deployed a wide range of contactless and paymentless technologies, with the aim of eventually deploying this complete menu at Fenway Park.
On the Web
PayPal’s ambition and the uphill battle in China
TECHCRUNCH | Wednesday April 28, 2021
At the recent Boao Forum for Asia, China’s response to Davos, the U.S. payments giant said its strategy for China was not to challenge the duopoly of Alipay and WeChat Pay. Instead, he wants to focus on cross-border business and provide gateways for both Chinese merchants to raise funds and Chinese consumers to pay for goods abroad.
Analysis: Grab’s Nasdaq Debut to Test Its $ 40 Billion Valuation and Build a Roadmap for PSPC Hopes
REUTERS | Wednesday April 28, 2021
The Singapore Grab has more than doubled its valuation to $ 40 billion in about a year under the world’s largest PSPC deal, but maintaining that level after its debut in the United States will be a test not only for investors, but also for companies considering similar listings.
Greek wallet Viva raises $ 80 million for its neo-bank targeting small traders
TECHCRUNCH | Wednesday April 28, 2021
Viva Wallet, a Greek start-up that creates banking services for small and medium-sized traders, has secured $ 80 million in funding, money it will use to expand its footprint and the services it offers to users, by particularly by developing its Merchant Advance. loan business.
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