By now it should be clear: For any new mobile technology to take off and thrive, convenience and value must be abundantly clear to the consumer.
While the industry has been busy focusing on mobile payments, something interesting has happened. The non-payment mobile wallet has emerged.
The real opportunity for brands is on the non-payment side, or the part of the wallet used to organize, not to pay for, items. Consumers are making their demands clear, according to recent research: They want solutions that help them better organize their mobile phones, especially as their reliance on them to complete daily tasks such as shopping continues to grow.
For retailers, the opportunity is vast, yet mostly un-tapped; they can use this emerging non-payment side of the mobile wallet, led by Apple’s Passbook and now available with Google Wallet and Samsung Wallet, to build personal, ongoing relationships with their consumers that drive loyalty and increase average order value.
What’s Behind the Growth?