SEATTLE–Were Starbucks accounts a credit union, it would be among the largest in the country.
Analysis conducted by the Wall Street Journal of data from S&P Global Market Intelligence found that there is $1.2 billion loaded on Starbucks cards and the Starbucks mobile app, as of Q1. Starbucks recently reported that 41% of Starbucks transactions in the U.S. and Canada were conducted using a Starbucks card (24% of transactions at company-operated retail stores U.S. used the Starbucks mobile app). The company had 12 million active loyalty members in the U.S. in the second quarter.
That amount is more than double the funds stored on cards issued by one of the largest prepaid-card providers, Green Dot Corp., which has $560 million on deposit.
The Wall Street Journal reported that PayPal had $13.02 billion in global customer account balances as of the first quarter of this year.