The popular chain of Starbucks cafes takes an interesting move to increase sales - creating their own Visa credit card.
Through it, consumers will be able to pay wherever they want, like all standard bank cards, and not just in the company's cafes.
The idea is when customers pay with the new product at Visa merchant sites to earn points that bring different bonuses to Starbucks, CNN conveys.
The company announced the premiere of the Starbucks Rewards Visa Card this week as the card is backed by JPMorgan Chase.
Every time consumers pay with the new card, they will be awarded points called Stars, which can then be used in more than eight thousand US based venues.
Cardholders also automatically become members of Starbucks loyalty program, which already has 14 million members.
The annual Starbucks Rewards Visa Card is $ 49. People who apply for the product will have to wait about a week to get their sculpture. They will also have a digital payment service through a special mobile application.
The company will not stop here. A debit card will be launched this year, again in partnership with JPMorgan Chase. It will be designed for customers with bad credit history who can not afford a credit card.
Overall, any move that aims to increase Starbucks' sales would be welcomed by investors, as the company needs fresh ideas. Its US revenue growth slowed to just 2% growth for the fourth quarter of last year, which is below analysts' expectations.
CEO Kevin Johnson, who took office last year, said at a news conference that demand for some Starbucks products (such as gift cards, for example) remains low. The chain of cafes has difficulty in attracting new customers, with sales growth being due to the fact that consumers spend a little more.
Sarbucks shares fell 4 percent after the financial results.
Meanwhile, the S & P 500 index added 20%, the rival Dunkin Brands recorded a growth of nearly 20%, and McDonald's, lately a hot drink maker, posted a 30% rise in its stock.