Tag: mobile payments

Consumers want more from their mobile wallets

| June 29, 2015

Mobile wallets need to support loyalty programs to ensure success

Users of mobile wallets prefer their platforms to have loyalty rewards rather than just offering a way to make mobile payments. A new survey from CMB shows that consumers that plan to use mobile wallets in the future are more interested in the ones that are associated with loyalty programs, as such programs can offer more value to these mobile wallets. Such programs are meant to reward consumers for their loyalty to a certain brand or retailer.

Apple Pay will support loyalty cards in its next generation iteration

Recently Apple announced that the next generation of its mobile payments service, Apple Pay, will support the loyalty cards that users have. These loyalty cards are typically issued by retailers that want to ensure the highest level of customer retention. Loyalty rewards include discounts, access to special offers, and a wide range of other benefits that have come to be favored by consumers. The survey from CMB shows that consumers interested in mobile wallets, want these platforms to support loyalty programs.

44% of mobile wallet adopters want support for loyalty programs

Consumers want more from mobile walletsAccording to the survey, 44% of potential mobile wallet adopters claimed that they wanted wallet-specific rewards programs as well as support for their existing loyalty cards. Other value added features, such as the ability to compare prices on a single platform, are less interesting to consumers that want to participate in mobile payments. Apple adding loyalty card support to Apple Pay may make this mobile payments service much more attractive than its competitors.

Mobile wallets offer convenient services that have become favored  among consumers

Mobile wallets serve many functions, from being able to store digital information provided by retailers to facilitating mobile payments. These platforms have become quite popular with consumers because of their convenient nature, but those interested in mobile wallets are beginning to expect much more from these platforms that simple support for mobile payments. As such, mobile wallets that offer the best services have established a strong position with consumers.

New mobile commerce firm wins investment support from Alibab and Ant Financial

| June 26, 2015

Koubei has won the interest of two of China’s largest companies

Chinese e-commerce mammoth Alibaba and Ant Financial, another prominent company in China, have each invested $483 million into Koubei, a joint venture in the mobile commerce space. Koubei is designed to provide consumers with the ability to order and pay for products from local services operating in China. Doing so can be accomplished over a smartphone, and the initial launch of this service will focus on food and beverage delivery.

Koubei aims to give consumers and merchants a new way to interact with one another

Those using Koubei will be able to use the Alipay Wallet to make mobile purchases. They may also be able to use the Taobao mobile application, which is controlled by Alibaba. Though the initial launch of the service will focus on the food and beverage segment, Koubei will expand to include local merchants, providing consumers with a way to purchase products from stores in their area. Koubkei may also provide merchants with promising marketing opportunities, giving them a platform from which to launch promotion campaigns and reach new mobile consumers.

Mobile commerce platform will serve as a boost for Alibaba and Ant Financial

Mobile Commerce - Company InvestmentKoubei intends to build a local services ecosystem that will be a benefit to merchants and consumers alike. This is something that Alibaba has shown significant interest in, as the company has its own food ordering and delivery business in the Tao Diandian brand. Ant Financial also has an interest in the mobile commerce ventures of Koubei, as the company has been involved in the mobile space for some time, managing Alibaba’s Alipay platform and making it possible for a wide range of consumers to purchase products from their mobile devices.

Mobile commerce continues to thrives in China

China has become one of the most robust mobile markets in the world. Smartphone penetration is high, and consumers have shown a great deal of interest in being able to shop for and purchase products with their mobile devices through a variety of platforms. Koubei will be one of the latest mobile commerce platforms to launch in China, and the support it has received from Alibaba and Ant Financial will give it a competitive edge.