Spending Bitcoin remains somewhat of a mystery to a lot of novice cryptocurrency users. Most payments are made in the online space, whereas in-store transactions with Bitcoin remain limited in number. But if it is up to IPayYou, that situation will come to change very soon. Their new feature allows Bitcoin users to spend cryptocurrency at Starbucks.
The new feature announced by IPayYou is designed to make spending cryptocurrency more convenient. Their first area of focus is Starbucks, one of the world’s most renowned coffee brands to date. Users can transfer Bitcoins from their existing IPayYou wallet to the Starbucks mobile application and spend the funds accordingly.
All users need to do is to select the USD amount they want to transfer, and Bitcoin Direct to Starbucks will take care of the process automatically. Having such an automatic purchase option sounds convenient, even though it is only accessible to people using the Company’s proprietary Bitcoin wallet. In a way, it works similarly to the service that Fold offers, although without relying on available gift card balances.
IPayYou Founder and CEO Gene Kavner explained the feature as follows:
“Bitcoin Direct is the quickest way for a busy iPayYou user to transfer funds to their Starbucks mobile app. After you initiate the transactions, your funds will be ready in seconds. iPayYou is revolutionizing the way consumers spend their bitcoins by focusing on how to integrate bitcoin with the normal habits of our users. Integrating with Starbucks was a no-brainer, as the company currently boasts 24,000 stores and with over one million customers using the Starbucks Mobile Order and Pay program per month. All of those customers can now use bitcoin to easily buy coffee, pastries, and so much more.”
It is good to see companies such as IPayYou focus on making the spending of cryptocurrency more accessible to everyday consumers. Although not everyone in the world stops at Starbucks on a regular basis, the number of coffee lovers around the world is a market waiting to be tapped. Bitcoin can make an impact in this segment because of its low fees and global availability.
Putting Bitcoin in the hands of everyone on the planet is a monumental task, but IPayYou feels that features like these can get the job done. Whether or not that will be the case, remains to be seen. Features like Bitcoin Direct to Starbucks are a great stepping stone to achieve that goal. Users who prefer buying digital gift cards for Starbucks and other services can do so through the Company as well.
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