Starbucks card

Data Shows Starbucks Has More Money in Customer Cards Than Some Banks Have in Deposits

Editor
Data from S&P Global Market Intelligence shows the company had $1.2 billion loaded onto gift cards and its mobile app

The Starbucks addiction is real.

In a review of data from S&P Global Market Intelligence to determine where people are holding their money, it was found that Starbucks held $1.2 billion in cards and on its mobile app for the first quarter of 2016, Market Watch reports.

The company reports that in its second fiscal quarter, 41 percent of Starbucks transactions in the U.S. and Canada involved a Starbucks card, and 24 percent of transactions at company-operated stores in the U.S. utilized the mobile app. The company had 12 million active loyalty members in the United States in this quarter.

This $1.2 billion in customer cards is impressive in sheer number, as well as for the fact that it exceeds that of deposits at financial institutions, such as California Republic Bancorp ($1.01 billion) and Discover Financial Services ($470 million).

Check out our story on the secrets of Starbucks’ success, according to its CEO.

In the meantime, we’ll be loading up our cards to try the chain’s newest Frappuccino.

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