Digital wallets will revolutionize the way consumers shop and pay for goods and services. Those who carry a mobile device will be your ‘always ready’ consumer, especially with the growth of digital wallets.
There are four major categories around mobile considerations
- Product Infomration
- Offers and Coupons
- Loyalty and Rewards
- Mobile Payments
What is a digital wallet? It is a digital service accessed through the web or a mobile app that authorizes payment transactions from one or more payment sources that facilities other commerce-related features such as offers, coupons, deals and more.
VAS will emerge within mobile digital wallet for use at point of sales. Coupons will be integrated for automated redemption, enhanced targeting and relevance, merchant funded. Consumers are already using value added services outside of the wallet: scanning, location lookups, redeeming codes, images
What we are finding is the more people do this, the more they do it! Meaning it’s going to continue to accelerate.
- Retail sales are expected to be $3.8TT in 2016
- eCommerce = 9% of that
- mCommerce = 8% of that. (more…)