When Apple launched its mobile wallet capabilities alongside the iPhone 6 last year, consumers were skeptical at best. Though Apple Pay promised both greater convenience and security, users, skeptical of privacy breaches, questioned the underlying safety of such technology. But, as other innovators introduce their own mobile wallet alternatives, these solutions may serve as the battleground between banks and retailers, as each industry seeks to gain and retain customer loyalty…
…Mike Polner, director of product marketing at Fivestars, indicates that merchants need more than just rewards and points or simple punch cards to bring customers back frequently and effectively. Driving mobile app adoption is extremely hard because consumers already operate dozens of apps regularly, sparking the battle for a share of that time. By engaging customers in ways that enhance their daily routines, however, brands have the chance to boost adoption rates and advance mobile payment penetration throughout the modern market.
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