Starbucks tests new gift card on iPhone

Starbucks has fashioned an iPhone gift card that lets consumers pay via their phones, according to The New York Times.

Dubbed myStarbucks, the gift card appears on the screen with a barcode that can be scanned by a barista at the Starbucks of the consumer's choice. While the application is still in the testing stages on the West Coast, it may have a big impact on mobile commerce. Should it prove successful, other pay-by-phone services may emerge, such as gift cards sent directly to your phone or even phone-based debit cards.

The application will also allow users to find locations nearby and remember things like friends' favorite drinks or their favorite Starbucks recipe. In addition, all coffee choices and nutritional information will be accessible on the app.