In 2021 Starbucks had more than 2.4 billion dollars stored in customer accounts, which they expect to redeem at some point for coffee, that's a lot of money to get an idea: 85% of banks in the US have less than $1 billion in assets, this is interesting because this means that Starbucks customers lent it $2.4 billion interest free which it can use as it pleases, the best part is that banks are required by law to have a certain amount of cash in case their customers want to withdraw money from their account however Starbucks does not have to meet these obligations, because the balance in its accounts cannot be withdrawn, it can only be exchanged for coffee, so Starbucks can spend all that money to continue to expand. But finally, why is Starbucks a threat to banks? Because Starbucks is no longer just a coffee shop chain and has become one of the most popular mobile payment systems in the world, with millions of customers' information about their spending habits. In conclusion, Starbucks has all the potential to become a FINTECH.
In 2021 Starbucks had more than 2.4 billion dollars stored in customer accounts, which they expect to redeem at some point for coffee, that's a lot of money to get an idea: 85% of banks in the US have less than $1 billion in assets, this is interesting because this means that Starbucks customers lent it $2.4 billion interest free which it can use as it pleases, the best part is that banks are required by law to have a certain amount of cash in case their customers want to withdraw money from their account however Starbucks does not have to meet these obligations, because the balance in its accounts cannot be withdrawn, it can only be exchanged for coffee, so Starbucks can spend all that money to continue to expand. But finally, why is Starbucks a threat to banks? Because Starbucks is no longer just a coffee shop chain and has become one of the most popular mobile payment systems in the world, with millions of customers' information about their spending habits. In conclusion, Starbucks has all the potential to become a FINTECH.