Starbucks Now Accepts Bitcoin (Through the App Spedn)

Cryptocurrency payments are finally going mainstream as Starbucks and 15 other enterprises are now accepting Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH) through the mobile payments processor Flexa, which has partnered with Winklevoss’ Gemini Exchange.

Buy Starbucks Coffee With Bitcoin

As reported by Forbes on May 13, the Winklevoss brothers walked into a Starbucks in New York and used one of their phones to pay for an iced coffee with Bitcoin (BTC).

Per the report, the brothers used a beta version of their new app called Spedn, which is built by the payments startup Flexa. All you have to do is simply wave a QR code in front of the Honeywell scanner and the payment is sent via the app’s native cryptocurrency.

As seen in the video above, the app is basically like Apple Pay but with crypto. The Gemini cryptocurrency exchange manages the conversion to fiat so the merchant doesn’t even know when you’re paying with Bitcoin, Ethereum, or Bitcoin Cash.

Explaining their Spedn app powered by Flexa, the Winklevoss brothers said:

“Major retailers pay billions of dollars each year in processing costs (costs that are often borne at least in part by the consumer). With Flexa, merchants (i) get significantly less expensive and fraud-resistant transactions, (ii) can use the same payment hardware they currently use, and (iii) receive payment in fiat currency, not crypto.”

What do you think about the Spedn app? When will an app or service be made that allows merchants to accept crypto directly rather than through an app and different crypto? Let us know what you think in the comment section below.

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