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Survey: Rewards key to mobile wallet use
Using mobile wallets may be a simple way of purchasing goods and services, but the simplicity, in many cases, doesn't include loyalty and rewards programs. The lack of points-earning capabilities, finds one new report, could be why more mobile consumers haven't made the switch.
When it comes to consumers switching over to mobile wallets, the key to the switch may lie less with the ease of use than with the rewards offered for purchases. That's the takeaway from new Points data which indicates nearly all of the consumers surveyed say they would increase their mobile wallet use if the wallet allowed them to earn and redeem loyalty rewards.
"Consumers are looking for that all-in-one solution when it comes to mobile wallets. While adoption for mobile wallets has been gaining steam, loyalty is the missing piece to help users stay engaged in mobile wallets for the long haul. And on the flip side, the integration of loyalty into mobile wallets presents an incredible opportunity for loyalty programs to make their currencies more ubiquitous and more deeply engage their member base in a new way," said Christopher Barnard, President of Points.
Some interesting takeaways from Points' The State of Mobile Wallet Loyalty and Engagement in 2016 include:
• 68% of consumers have a rewards-linked/collecting credit card
• 85% of consumers are looking for rewards from frequently visited stores
• 38% want to redeem rewards at grocery stores, 20% for travel
• 94% are interested in mobile wallets that them to exchange loyalty program points
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