Mobile wallets are quickly gaining attention and traction as a new way to connect with consumers on their mobile devices. A Business Insider article highlights recent announcements by Android Pay and Apple Pay that will help speed things along. Check out Android’s new experiment that uses incentives to help drive mobile wallet adoption and condition users to think about their digital wallet first in their everyday lives.
Panera’s recent success with Apple Pay is a prime example of how the value of the mobile wallet is coming to fruition. The convenience of ordering ahead through apps is accentuated with streamlined payment and amplified with non-payment wallet-related items such as loyalty and reward programs that show the true promise of mobile wallet solutions. As brands look to create exceptional experiences, mobile wallet goes far beyond payments to serve as a loyalty card, a gift card, a coupon offer, etc. — all without having to reach into a handbag. It’s this combined added value that makes the purchase experience delightful and seamless.
According to CMB Consumer Pulse, the top features that would influence consumers to adopt a mobile wallet include “wallet-specific rewards program” (44%) and “use as photo ID” (20%). Your brand can set itself apart by leveraging the native ecosystems of Apple Wallet and Android Pay app, that come pre-installed on the majority of mobile devices, to create unique mobile experiences for your customers.
For more on the mobile wallet opportunity for your brand, check out our recent blog post, “It’s time: Get moving with Mobile Wallet Marketing.” And for more examples of how you can take advantage of the opportunity, spark your creative ideation with our Mobile Wallet Inspiration Guide.