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Starbucks “cashing-in” on more than just frappuccinos these days

Many of the nation’s banks are on the outside looking in when it comes to holding customer’s cash these days, and they have Starbucks to blame . . .

The Wall Street Journal recently reviewed data from S&P Global Market Intelligence to determine where people are stashing their money these days, including banks, entities like PayPal Holdings Inc. PYPL, -0.97%  and other nonbanks.Starbucks Corp. SBUX, -1.29%  , for one, had $1.2 billion loaded onto Starbucks cards and the Starbucks mobile app as of the first quarter of 2016, according to the data. This money can be used to purchase items including drinks, food and other merchandise.

Source: Starbucks has more customer money on cards than many banks have in deposits – MarketWatch

About the Author

Chris Broussard
I'm the Co-Founder and President of Tematica Research and editor of Thematic Signals, which aims to uncover confirming data points and items to watch for our list of investing themes. Whether its a news item, video clip, or company commentary, we've included this full list of items literally "ripped from the headlines." I have been involved in financial services marketing and publishing for over 20 years – having held senior level positions with financial publishers, financial services corporations and providing marketing support and consulting services to financial institutions and independent financial advisors. My background in digital marketing, financial services and consumer research provides me with a unique perspective on how to uncover the underlying proof points that are driving the themes our Chief Investment Officer Chris Versace utilizes in our various Tematica publications.

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