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Mobile Payments

Why I Love Venmo  
 In the past few years, mobile payment apps have flooded the market, with some dominating in specific sections. Apps like   PayPal  ,   Square  ,   LevelUp  ,   Chirpify   and   Dwolla   have all taken their place within the industry. For my group of friends, our go to payment app is   Venmo  . 
 Behind Starbucks,  Venmo is the second most used payment app , racking up an average of  seven payments  per month.  Among age groups, Venmo users comprise the youngest category (18-24-year-olds). Young people love Venmo. It makes paying someone fun and simple. Business Insider recently  reported  that Venmo is now officially a verb. “Like Google, Xerox, and Facebook, mobile payments startup Venmo has already achieved that rare and highly coveted milestone in the product services world: its name has been verbalized.” I’ve heard my own friends say to each other,  “Dude, just Venmo me.”  Venmo has revolutionized mobile payments, making it a social interaction rather than a formal and tedious exercise. 
 There’s instant gratification about being paid right back. Gone are the days of worrying about giving your friend change for a $20 or them paying you back in drinks the next time you go out. You literally can get the exact amount you need within seconds of paying the bill. If you have a credit/debit card and a smartphone, there’s no excuse not to have it … unless you have no friends : ( 
  Featured photo from  Venmo’s 2013 Office Tour  on Business Insider

Why I Love Venmo

In the past few years, mobile payment apps have flooded the market, with some dominating in specific sections. Apps like PayPal, Square, LevelUp, Chirpify and Dwolla have all taken their place within the industry. For my group of friends, our go to payment app is Venmo.

Behind Starbucks, Venmo is the second most used payment app, racking up an average of seven payments per month.  Among age groups, Venmo users comprise the youngest category (18-24-year-olds). Young people love Venmo. It makes paying someone fun and simple. Business Insider recently reported that Venmo is now officially a verb. “Like Google, Xerox, and Facebook, mobile payments startup Venmo has already achieved that rare and highly coveted milestone in the product services world: its name has been verbalized.” I’ve heard my own friends say to each other, “Dude, just Venmo me.” Venmo has revolutionized mobile payments, making it a social interaction rather than a formal and tedious exercise.

There’s instant gratification about being paid right back. Gone are the days of worrying about giving your friend change for a $20 or them paying you back in drinks the next time you go out. You literally can get the exact amount you need within seconds of paying the bill. If you have a credit/debit card and a smartphone, there’s no excuse not to have it … unless you have no friends : (

Featured photo from Venmo’s 2013 Office Tour on Business Insider

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Starbucks Mobile Innovation 

The forefront of the mobile revolution is taking place on the corner of your street, at your friendly, neighborhood coffee shop: Starbucks.  Business Insider reported recently that Starbucks has racked in more than $1 billion in 2013 from its mobile sales, a figure that can be attributed to its ten million active users.  

The staggering results from their mobile strategy come from multiple pioneering marketing campaigns during Q4 of 2013. Their Twitter campaign—aptly named “Tweet-a-Coffee”—lets coffee lovers tweet a hashtag that’s linked to a credit card, and friends and family can redeem them through the Starbucks mobile app.

Starbucks patrons can use the app for card payments and direct purchasing of beverages and food. Once downloaded, users can unlock free drinks and food after reaching a certain number of purchases in the app. The app is very much like a game.  It’s fun, it’s unique, it’s interactive, and it’s convenient.

I write about this app because…well…I use it—almost everyday, actually. No other eCommerce app has done what Starbucks has done, which is, quite simply, create an app that’s habit forming. Every morning I go into Starbucks and without thinking, take out my phone, not my wallet.  

Starbucks’ newest mobile venture will come in the form of pre-ordering on your phone. They want to change the ever-growing line at it’s locations by allowing costumers to order and pay from the app upon arrival or beforehand.

Starbucks continues to be at the forefront of mobile innovation and I implore all of you to download the app, even if you aren’t a fan of the brand.  Flip through it, study it, and ponder what the future of mobile may look like.  The Starbucks app is a wonderful case study of how mobile can positively impact overall brand strategy.   

I’ll leave you with a quote on Starbucks innovation…

And I think once again the Starbucks… mobile transaction platform is still in its nascent stage. And we believe there is an opportunity to extend that value to our customers in ways that we have not yet shared with you.

—Howard Schultz, CEO

Download the Starbucks App