So, as you all know, Starbucks has gone completely modern and now out-moderned all of their snobby, posh customers. According to this website, here we go with the new technological revolution...pay it off your iPhone or Blackberry! Yes, you can pay your $4 coffee with your $400 phone. All is well with the world.
Seriously, this fad is likely to revolutionize the way we view a common transaction according to this article. Just pause a moment to think that your grandchildren will not remember what it was to carry cash or even cards! My grandfather was concerned about the scare of debit cards, and now we're throwing even those to the wind. Starbucks has developed a system to facilitate payment of your Starbucks products/services via an account on your Smartphone. This is supposedly in order to cut down on the long lines by increasing efficiency. My question is whether this really will save time. The amount of time saved by not having to dig out a debit card and swipe seems negligible to me. However, maybe it will truly affect the process. It does seem to be convenient for the store, but what about the customer? Doesn't maintaining an extra Starbucks account decrease convenience? While the money is there idle, it could have been in the bank ensuring your assets or covering bills...not to mention the small lump of interest associated. Therefore, while I commend Starbucks for taking a leap into the next age of technology, I wonder whether this will be worth the costs of the R & D associated with developing the venture.