Oct 11, 2011

Peet's Coffee & Tea Offers Quick and Convenient Payment Options With Google Wallet and MasterCard® PayPass™

Near field communications (NFC)-enabled technology gives consumers additional payment options

EMERYVILLE, Calif.--(BUSINESS WIRE)-- Peet's Coffee & Tea, the premier specialty coffee and tea company, announced today that it will begin accepting payments made with cards loaded into Google Wallet and MasterCard® PayPass™ contactless cards at all of its company-owned locations by the end of October 2011.

In addition to accepting traditional magnetic-stripe cards for payment, Peet's customers can pay for their purchases by simply tapping either their NFC-enabled smartphone that has been loaded with the Google Wallet app, or other contactless payment devices on any MasterCard PayPass-enabled terminal at the register for faster transactions and greater payment flexibility. Google Wallet is a smartphone application that allows the phone to function as a wallet. It securely stores virtual versions of the user's existing plastic cards, and the app uses NFC technology to make secure payments with the tap of a mobile phone.

"I'm thrilled that we're able to embrace this new technology, because it's an opportunity for us to engage with our customers in new ways," said Kay Bogeajis, Peet's Vice President of Retail. "In the short term, our customers can use the cards in their Google Wallet app with their NFC-enabled smartphones to pay for Peet's handcrafted espresso beverages, artisanal coffees, teas and merchandise without reaching into their wallets for cash or credit cards. In the longer term, we hope to use this technology to strengthen the loyalty of our existing Peet's fans by incorporating new ways of connecting with them, and build relationships with people who haven't yet been introduced to Peet's."

Eighteen Peet's stores in and around San Francisco and San Jose already accept payments from customers through NFC-enabled smartphones and plastic MasterCard cards that are enabled with PayPass™ technology. NFC readers will be installed on all registers at the remaining Peet's retail locations nationwide by the end of October. For a complete list of Peet's retail locations, visit www.peets.com/stores/store_locator.asp.

About Peet's Coffee & Tea, Inc.

Peet's Coffee & Tea, Inc. (NASDAQ:PEET) is the premier specialty coffee and tea company in the United States. The company was founded in 1966 in Berkeley, Calif. by Alfred Peet. Peet was an early tea authority who later became widely recognized as the grandfather of specialty coffee in the U.S. Today, Peet's Coffee & Tea offers superior quality coffees and teas in multiple forms, by sourcing the best quality coffee beans and tea leaves in the world, adhering to strict high-quality and taste standards, and controlling product quality through its unique direct store delivery selling and merchandising system. Peet's is committed to strategically growing its business through many channels while maintaining the extraordinary quality of its coffees and teas. For more information about Peet's Coffee & Tea, Inc., visit www.peets.com.

Double Forte
Nicole Arena, 415-848-8103 (Media)
Elizabeth Sgarrella, 415-848-8133 (Media)
Peet's Coffee & Tea, Inc.
Seanna Allen, 510-594-2196 (Investor)

Source: Peet's Coffee & Tea, Inc.

News Provided by Acquire Media