Credit unions have found a new place to add value in the mobile wallet wars. They can help local businesses launch mobile wallets and help those businesses be just like a very friendly coffee company we all have come to know and love, or at minimum, admire. The most successful mobile wallet has become very popular very quickly, and it has achieved this success in a quiet way. While some mobile wallet providers such as Samsung and Apple (referred to collectively as "The Pays") have made loud splashes when launching their offerings, the most successful mobile wallet is not even considered a true mobile wallet by many industry pundits.

What is this fabled wallet? Who makes it and where do you get it? Well, I hope you like coffee, because it's Starbucks. More than 20% of the company's payments now come through its mobile app. And, it is rapidly adding features like Order-Ahead and strengthening its loyalty programs. Rather than wait for the future promise of mobile wallets, Starbucks did its own thing. The Pays have failed to take the world by storm. Yes, someday we may use a single mobile wallet loaded up with all our cards, to make payments everywhere. But that day is not today. And, that day is probably not even coming soon. Enter business-specific mobile wallets. Enter Starbucks, and all of the other businesses that are following suit.

So why does a business want to pursue launching its own mobile wallet? It could be streamlining payments and making them cheaper. Processing a credit card or debit card is expensive. If the business can move its payments to other clearing mechanisms (like stored value or ACH) it could save money. The motivation for a stand-alone business mobile wallet could be to be cool and innovative. While others are waiting for the big infrastructure players to figure out mobile wallets, companies like Starbucks, Walmart and CVS are doing their own thing and delivering innovative, convenient solutions for their customers. These businesses can control much of their payments infrastructure and make real progress while others are waiting – waiting for new terminals that take mobile payments or waiting for enough smartphones to be sold that support mobile wallet payments. Well, some businesses are done waiting. They want to innovate and save money today.