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The First Bank of Starbucks

How did an international chain of coffee shops position itself to play a major role in upending not just how payments are made but also the business model of established financial institutions? In a word: technology.

WASHINGTON, DC – On August 3, Starbucks made an announcement which, though little noticed at the time, amounts to a potentially massive shift in the organization of finance. How did an international chain of coffee shops position itself to play a major role in upending not just how payments are made but also the business model of established banks?

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