3 Tips for Developing a Branded Currency Strategy

Retailers that effectively combine these forms of currency can actually influence purchase decisions and use it as a competitive advantage. With the rapid consumer adoption of digital and mobile, retailers have a new opportunity to deliver this currency in a more convenient and effective way.

Take Starbucks, for example. The coffee shop has harnessed the power of branded currency by transforming its gift cards into mobile payment/loyalty cards that are reloadable through its branded mobile app. The mobile experience it's created is seamless and convenient for users. Today, more than 7 million people use Starbucks’ mobile app to make 4.5 million payments a week, accounting for at least 10 percent of the coffee chain's total U.S. revenue.