Category: Featured News

New Fitbit band could function as a mobile wallet.

Major developers of simple yet popular fitness trackers are constantly looking for new ways to make their products stand out from the competition. Last week, one of these top developers, Fitbit Inc., revealed that it has purchased wearable payment technology assets from Coin, a Silicon Valley startup that manufactures devices which use near-field communication (NFC) technology, reported Reuters.

Fitbit is not the first maker of wearables to offer a mobile payment option via its device.

Although Fitbit is the leader of the wearable devices market, it isn’t the first developer of this tech to implement a mobile payment solution into its product. Jawbone, its main competitor, has already partnered with American Express Co, enabling Jawbone users to pay via its premium fitness band UP4.

The new deal that Fitbit has made with Coin will help it to remain on top of its game and enter the NFC technology market. This is an important move for the company because NFC continues to gain in popularity with retailers and users. Currently, NFC has been prominently featured in Apple Watch and other mobile devices as well as in well-known payment services including Apple Pay, Google Wallet and Samsung Pay.

Fitbit’s wearable payment technology plan is being reserved for future devices.

While Fitbit has announced the acquisition of Coin’s assets, the dominating wearables maker does not have any plans to incorporate the NFC tech into any of its products this year. However, the acquisition does give the company the advantage of developing an impressive NFC payments solution that is likely to be implemented into its future devices.

James Park, CEO and co-founder of Fitbit, said in a statement that the company is “focused on making wearable devices that motivate people to reach their health and fitness goals, and that also make their lives easier with the smart features they need most,” adding that “Coin has been one of the key innovators in advanced payment solutions.”

Park said that adding the wearable payment technology into their products will further Fitbit’s strategy of making its products “an indispensible part of people’s lives.”

One in four mobile consumers has at least one mobile app specific to restaurants on their smartphone.

This statistic was discovered by a recent study published by RetailMeNot, Inc., which commissioned Google Consumer Surveys to poll more than 1,000 American consumers on their dining and food habits, including smartphone usage for searches and activities related to restaurants. What the study found was that there were several interesting consumer smartphone trends related to food and dining, such as among the participants surveyed who said that they dine out eight to ten times per week, over two-thirds of these respondents use a restaurant-specific mobile app.

Consumers between the ages of 25 and 34 engage in the most restaurant research on their mobile devices.

The main reasons why restaurant goers use their smartphones is to locate restaurants (53%), browse a menu (49%) and research new restaurants (37%). According to the study, smartphone users in the 25 to 34 age range (millennials) were the most likely to research new restaurants on their mobile phone compared to any other age group (60%).

Mobile marketing is an important part of restaurant-related consumer smartphone trends.

It was discovered that nine out of ten diners who participated in the survey said that they have searched for a restaurant deal at least once. Furthermore, those who earn the most money also tend to be the ones who use online or mobile restaurant deals the most. That being said, eight out of ten consumers who participated admitted that they would likely try a new restaurant if a deal was being offered.

Chief marketing officer in North America for RetailMeNot, Inc., Marissa Tarleton, explained that with the increasing number of consumers turning to their smartphones to assist them with their dining choices, it is becoming more important for restaurants to make the most of mobile advertising.

“Mobile marketing technology is a powerful medium when it comes to serving up the right dining content, in the right location, at the right time,” Tarleton said. “When done well, mobile has the ability to drive more diners through their doors and keep them coming back for more.”

The bottom line is that while researching restaurant locations and new venues is among the bigger smartphone trends for American restaurant patrons, it seems that the majority of consumers actively use their mobile devices to take advantage of restaurant deals.