Despite industry pushback, Maryland became the first state to require secure packaging for most gift cards sold at stores. “It will change packaging nationally,” one retail insider predicted.
$1.2 billion would be a very small bank. But also, that money is not able to be used by Starbucks. It’s not “earned” yet. I don’t know the details on what they can invest it in, but I wouldn’t be surprised if it has to just sit in a bank account earning very little.
Even a small bank would be able to invest the money much better.
Starbucks had 1.2 billion USD held on Starbucks cards/the app back in 2016, “enough to be a midsize bank,” and I can only imagine it’s gone up since.
$1.2 billion would be a very small bank. But also, that money is not able to be used by Starbucks. It’s not “earned” yet. I don’t know the details on what they can invest it in, but I wouldn’t be surprised if it has to just sit in a bank account earning very little.
Even a small bank would be able to invest the money much better.