Starbucks Allows Customers to Pay with Their Mobile Devices

question 91

True/False

Starbucks allows customers to pay with their mobile devices.Customers create an account with Starbucks as part of the retailer's loyalty program,and transfer money to a pre-paid account.Upon check out,users activate the Starbucks app,which creates a bar code or QR code that can be scanned at check out.

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Definitions:

Money Center Banks

Large financial institutions that offer a wide range of financial services, located in major financial centers and dealing with high volumes of currency transactions.

Industry Structure

The organizational composition and competitive dynamics of an industry, including the number and size of companies, entry barriers, and the extent of rivalry.

Threat of Entry

In business, it refers to the potential for new competitors to enter a market and disrupt existing players, impacting profitability.

Existing Competitors

Companies or entities that currently operate in the same market or industry as the subject company, offering similar products or services.