Bakkt reveals Direct Payment Option Integration with Starbucks

Starbucks mobile app users now see Bakkt Cash as a payment option, reports CoinDesk.

Intercontinental Exchange (ICE), the parent company of Bakkt, revealed in August 2018 that the coffee giant is looking for the crypto retail payment applications. This month, Bakkt has secured $300 million in Series B funding despite bear market gripping the cryptocurrency market.

Executive Opinion

Bakkt President Adam White revealed the integration of a new payment with the Starbucks on twitter:

CoinDesk report also noted a statement from Starbucks, which said, "We anticipate that a range of crypto will gain popularity with customers. Our work with Bakkt will be able to continually envision and offer customers new unique ways to pay without problems at Starbucks."

Testing for Crypto Payments

According to the report, Starbuck is also a strategic launch partner for the Bakkt digital wallet. On the other hand, the latter plans to provide loyalty point programs and crypto payments via a single application.

The use of the Bakkt Cash could be accessible to all the users of the mobile app. To take advantage of the new payment integration, customers will now need to simply register for the platform early access program. To enable loyalty points and rewards, the Intercontinental Exchange (ICE) recently agreed to acquire Bridge2 Solutions.
Bakkt revealed that the crypto option is as of now only in a limited beta version.