Tag: CMB

Consumers want more from their mobile wallets

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.

PayPal leads the way in mobile wallets

PayPal is beating out the competition when it comes to mobile wallets and payment support

PayPal seems to be maintaining its lead in the mobile wallets space. The company established a prominent place in the mobile commerce space years ago, being one of the first to draw attention to the convenient nature of mobile payments and through its offering of innovative digital and mobile services. PayPal has faced down competition from other companies that have entered into the mobile commerce space and has managed to excel where other companies have failed.

Survey shows that 71% of mobile consumers make use of PayPal’s wallet

According to a new survey from CMB, consumers seem to favor PayPal over others when it comes to mobile payments. The survey shows that 71% of mobile consumers make use of PayPal’s mobile wallet, which is being used to make purchases in physical stores and on the Internet. Many of those that have not used the wallet to make a purchase in a physical store have reported that they plan to do so within the next six months.

Apple find success in the mobile payments space, beating Google and Amazon

PayPal mobile walletThe survey shows that 55% of consumers are making use of Apple’s new mobile payments platform, called Apple Pay. The platform is quite young when compared to those offered by other companies, but has managed to attract a great deal of support among consumers. Google is falling behind both Apple and Amazon when it comes to mobile wallets, with Microsoft falling dead last. Of these companies, Microsoft has experienced the most difficulty in entering into the mobile payments space, partly due to the lack of popularity for its Windows Phone platform.

Mobile wallets will continue to gain momentum

Mobile wallets have become quite attractive to consumers in recent years. These platforms have become effective at keeping the financial information of consumers secure. Mobile wallets also serve as a convenient way for consumers to conduct commerce. As mobile payments continue to grow in popularity, more mobile wallets are expected to enter the market, and some of these platforms may eventually provide serious competition for PayPal.