BUSINESS

Starbucks launches cashless stores in S. Korea

By Yonhap
  • Published : Apr 23, 2018 - 09:49
  • Updated : Apr 23, 2018 - 09:49

Starbucks Coffee Korea Co., the local unit of the US coffee giant, said it began a test run of cashless stores at three of its outlets on Monday amid rising use of credit card and mobile payment systems in the country.

The stores at major office districts -- Gangnam and Guro in Seoul, and Pangyo, just south of the capital -- began trial testing the system. The global coffee giant launched its first cashless store in Seattle, the company said.


In this undated photo provided by Starbucks Coffee Korea Co., the local unit of the U.S. coffee giant, models pose for a photo at its outlet in Seoul to advertise the test operation of cashless stores in South Korea starting April 23. (Yonhap)

Paying with cash has been constantly declining at Starbucks stores in South Korea, from 31 percent of the total in 2010 to 15 percent in 2013 and 7 percent last year, the company said.

According to government data, daily credit card spending in South Korea hit a record-high average of 1.76 trillion won ($41.65 billion) last year. (Yonhap)



LEADERS CLUB