Howard Schultz

That didn't come from me. As the stores got busier and busier, the baristas were having a hard time with whose cup is it? What are we going to do? And someone at Starbucks, I don't know who it was, started writing names on the cup, writing names. And it just became standard.

That didn't come from me. As the stores got busier and busier, the baristas were having a hard time with whose cup is it? What are we going to do? And someone at Starbucks, I don't know who it was, started writing names on the cup, writing names. And it just became standard.

So much of Starbucks' success came from customers asking for things we weren't doing, and Starbucks employees who became partners in 91 understanding the business better than me.

So much of Starbucks' success came from customers asking for things we weren't doing, and Starbucks employees who became partners in 91 understanding the business better than me.

The intimacy with the customer and the barista became a very powerful component of the equity of the experience. And I've always thought in so many ways, Starbucks became the first experiential brand at scale. We didn't spend any money on marketing. Zero. There was no money for marketing.

The intimacy with the customer and the barista became a very powerful component of the equity of the experience. And I've always thought in so many ways, Starbucks became the first experiential brand at scale. We didn't spend any money on marketing. Zero. There was no money for marketing.

And the cup, the iconic cup, became a badge of honor because people were doing something that was new and novel and walking in the street with it. And people, you know, what is that? It was a lot of that kind of stuff.

And the cup, the iconic cup, became a badge of honor because people were doing something that was new and novel and walking in the street with it. And people, you know, what is that? It was a lot of that kind of stuff.

Perfect.

Perfect.

Well, listeners, this entire episode so far, we have broadly been talking about the concept of customer experience with Howard. And we want to talk about another business that has been innovating on the customer experience, and that's JPMorgan Payments. When it comes to digital commerce, JPMorgan Payments is all about personalization and convenience, both for consumers and businesses. Right.

Well, listeners, this entire episode so far, we have broadly been talking about the concept of customer experience with Howard. And we want to talk about another business that has been innovating on the customer experience, and that's JPMorgan Payments. When it comes to digital commerce, JPMorgan Payments is all about personalization and convenience, both for consumers and businesses. Right.

Yep. And importantly, we expect our payments to be simple no matter where or how we want to pay, which creates real challenges for the business on the other side of that to create the magic. Even with super complex transactions like a marketplace website where you aren't just buying from one single retailer, but a merchant on the other side of that platform.

Yep. And importantly, we expect our payments to be simple no matter where or how we want to pay, which creates real challenges for the business on the other side of that to create the magic. Even with super complex transactions like a marketplace website where you aren't just buying from one single retailer, but a merchant on the other side of that platform.

You can imagine there are plenty of technical and regulatory complexities to make that frictionless across different countries and currencies, but with great embedded finance and innovative commerce solutions, you can delight customers without really taking that all on yourself.

You can imagine there are plenty of technical and regulatory complexities to make that frictionless across different countries and currencies, but with great embedded finance and innovative commerce solutions, you can delight customers without really taking that all on yourself.

Oh yes, like biometric payments, which remarkably, research shows that will reach 3 billion users and $5.8 trillion in value globally by 2026. That is insane.

Oh yes, like biometric payments, which remarkably, research shows that will reach 3 billion users and $5.8 trillion in value globally by 2026. That is insane.

Yeah, if any of you were at the Formula One race in Miami last month, you may have even seen JP Morgan's biometric payments powering the fast lane checkouts in the merch store. In last year's pilot, literally every single payment was processed in under one second.

Yeah, if any of you were at the Formula One race in Miami last month, you may have even seen JP Morgan's biometric payments powering the fast lane checkouts in the merch store. In last year's pilot, literally every single payment was processed in under one second.