While news of the mobile wallet market often focuses on mobile payment platforms, new research shows that consumers are interested in the non-payment aspect of digital wallets, such as digital coupons, boarding passes and loyalty cards.
“Mobile Wallet Consumer Report — Non-payment opportunities for marketers,” a new report by Vibes, reveals that 85 percent of consumers say they would benefit from these non-payment features. Nearly 60 percent say their perception of a retailer would change for the better if that retailer were to deliver this type of digitized content. But retailers aren’t yet taking advantage of this desire: Only 19 percent of consumers say they noticed a retailer offering specific digital wallet content in the past six months.
One major obstacle is keeping retailers from jumping on this consumer demand: Currently, few options exist for reaching customers through digital wallets. For example, Apple’s Passbook was introduced in September 2012, Samsung Wallet didn’t premiere until August 2013 and Google Wallet Objects — the non-payment side of Google Wallet — isn’t set to debut until this fall.
But as these platforms become better-known and attract more users, marketers will begin to see benefits similar to those they are already gaining through other mobile platforms, such as branded mobile apps. These include the ability to make time-sensitive offers as well as the ability to use location-tracking and personalization efforts that consumers are coming to expect in their mobile experiences.
However, the usefulness of digital wallet non-payment features — for consumers and marketers — will be largely determined by the rate of consumer adoption. If adoption is high, marketers will have a highly effective new channel for personalizing their brand messages.
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