The Power of Mobile Wallet Marketing

The Power of Mobile Wallet Marketing Mobile wallets provide easy access to users to make in-store payments anywhere and use their mobile wallets on the listed merchant’s site. It is also providing businesses with an easy way to reach 100% of their customers on mobile — no app is required. In coming years, Mobile wallet is going to be the biggest contributor in terms of sales volume, this option is most feasible for people who stay cashless.

Customers Want Coupons in Mobile Wallet

Most people use mobile wallets mainly for non-payment passes like loyalty cards, order delivery updates, mobile payment, boarding passes, ID cards, event tickets, reminders — and coupons. Without offers, nobody wants to use mobile wallets.

4 Reasons to Start Offering Coupons through Mobile Wallet

No Clipping or Printing Required

Carrying paper coupons is difficult for customers as people usually lost them. As per market analysis, most of the respondents “always” or “often” forget to bring paper coupons with them while shopping. If you have a coupon in your mobile wallet, then you can use it anytime anywhere as it’s always available.

Offer a More Customized Experienc

If you can provide customized experiences to your customers then it may rise the adoption of mobile wallet passes, including coupons. Most people download a wallet pass if it’s personalized. There are multiple ways to personalize coupons in mobile wallets. One simple example is to offer a discount on a future purchase of the same amount or a similar item a

customer has already purchased from you.

Maximize Coupon Redemption by Reaching Customers in the Right Place at the Right Time You can remind customers by using their location to use their mobile wallet discounts when they’re close to a store or when they open certain online shopping apps you can send them a discount offer notification. In fact, many people go to a store if they receive expiration reminders when they're near a retail store. When coupon holders receive “last chance” expiration reminders of a wallet pass most of them use the coupon at the same moment.

Keep Your Offers Fresh

With mobile wallet passes, you can update your coupons as per availability and there’s no need to delete old passes and download something new. Notify users when a new offer comes in with a notification, or remind them via another channel like email, in-app messaging, or text messaging to check the pass every week to avail of the latest offer.

Revolution of Digital Wallets

Digital wallets entered the market back in the late 1990s with PayPal as a payment gateway used for eBay users that made it convenient to store their card information for repeat online purchases. As digital wallet technology was not much effective at that time, as well as customers and retailers were also slow in adapting it to certain concerns like security or not even being aware of the existence of digital wallets. All of this kind of thinking changed by October 2014 when Apple Pay entered the market with a boom.

Now, digital wallets have completely taken over payment mode, because when you pay your bills via digital wallets you get several offers, cashback coupons, and discount coupons on other future purchases. Majorly, the younger group of customers have adopted this technology advancement because when it comes to experimenting with things and adopting new technologies our younger generation leads the market. “And that’s certainly true for mobile payments, where security concerns are more among older consumers. Ultimately, mobile wallets are required to have a strong track record of security features to attract more users across the globe for the long term.”

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