If you think that mobile wallets are only about payments, you are wrong.
Yes, we know, it seems that every article about mobile wallets extoles the virtue of using them to make payments. Whether it’s Apple Pay, Android Pay, Samsung Pay, Paypal, or some other localized brand of wallet, the primary focus of the articles almost always misses the point.
We noticed an article in our inbox this morning from PaymentSource that attempts to shed some light on the real gems to be found in mobile wallets (and of course it’s the same thing we tell you all the time), and we thought we’d share it with you –
The value proposition of a mobile wallet is not about payment, but rather attractive value-added services that can be offered across a mobile-enabled environment. Examples of value-added services include coupons and offers, loyalty solutions, product information, digital receipts, and warranties.
The ability of the mobile wallet to create engagement and communication opportunities is unparalleled, fresh and new. Without the swift rise of smartphones, we could not have this conversation, mostly because the delivery mechanism didn’t really exist before this.
Email marketing translates into exceptional mobile wallet campaigns, as does SMS. The cost benefit is huge, the risk of spam complaints is almost non-existent, and the response rate is absolutely incredible.
There are any number of creative ways to use mobile wallet campaigns to engage with customers and prospects. They can be used to drive referrals, get more traffic to new offers and provide educational or other materials in a context based setting.
As a matter of fact, the easy sharing opportunities marry the “word of mouth” with the technologically capable notifications and updates in a stellar way –
Check it out if you haven’t already!