
For some time, mobile payment innovation in the hospitality industry has been led by Starbucks. Considered the leader among all merchant categories, Starbucks employs its mobile payment platform to coordinate more than just purchase transactions. While the company's mobile transactions exceed two million per week, consumers focus on Starbucks' built-in loyalty programming (i.e. gamification leading to free products, discounts, and prizes); not transaction speed or efficiency. Mobile payments have been shown capable of serving beyond the front-end to an electronic payment gateway and hospitality management needs to monitor developments to ensure that standards are understood and properly implemented. In fact, the future of mobile payments (mPOS) and related services are expected to replace today's POS devices and media. mPOS processing not only includes person-to-person payments and loyalty programs, but can also target marketing services featuring geo-targeted, real-time redemption of discounts, coupons, promotions, and rewards. For the hospitality industry, current users are termed early adopters, but within 2-3 years mPOS is expected to be the norm. READ MORE