Our friends over at TagPoints have recently published a very interesting article regarding how loyalty will become the main factor in determining the victor of the mobile wallets war.
Here at Scribble, we consider ourselves advocates of emerging technologies, as such, are extremely excited to see when and how mobile wallets hit the mainstream. TagPoints are by no means criticising mobile wallet systems, instead, they are predicting that the supposed ‘victor’ of the mobile wallet war will make full use of loyalty integration into their service. This is particular apt. As it currently stands, the main advantage of a mobile wallet service is convenience, which may not be enough of a pull to entice consumers to adopt a new platform on its own.
Loyalty seems to be the perfect fit for a mobile payment system. It’s clear that early adopters, in general, are using mobile wallets as more of a gimmick than an actual tool. Maybe incentivising consumers with a saving or reward for each purchase is what these services need to incorporate, in order to ensure mass market adoption. It would certainly work for us at Scribble!