When it comes to mobile payments, banks need to learn from retailers
It may be on retailers to move the needle when it comes to mobile wallet adoption.
Apple Pay launched in August 2014 but adoption of the mobile wallet and all of its peers that followed — mainly Samsung Pay and Android Pay — has been “underwhelming to date by nearly every objective standard,” Goldman Sachs analysts said in a recent client report.
More and more, however, retail chains — especially among quick service restaurants — have been investing more in their customer apps to provide value beyond the payment, by allowing them to order and pay in advance and personalize ordering preferences and location, for example.
It’s not the first time the financial services world has had to look to the retail industry for innovation. It’s a similar theme among bank branches, which are starting to see their digital and mobile strategies come together but are now having to look to other types of retailers for physical branch strategy and inspiration.
Here are five charts that show why the mobile wallets push the payments industry wants will need some help from retailers.
Read the full story on tearsheet.co
-
Why a sports betting company will brand the new train line to MetLife Stadium
As part of this effort, a variety of print and digital assets have been developed, as well as the official rebranding of all of the NJ Transit system's signage and advertising to accommodate the new rail line. A clear understanding of the financial agreement was not provided.
-
How Squarespace is marketing more directly to the creator economy
With new features and ads, Squarespace is the latest tech company to market more directly to creators
-
Member ExclusiveMarketing Briefing: With pressure mounting on Q4, some marketers are planning to roll out holiday sales early
Marketers are rolling out holiday marketing and sales early as economic uncertainty persists and pressure builds for the fourth quarter.
-
Sponsored<strong>How marketers are responding to shoppers’ wants this holiday season</strong>
Matthew Tilley, executive director, marketing, Vericast With the holidays right around the corner, the economy may force some consumers to adjust their plans and stretch their dollars even further. While some shoppers may rein in their spending, others will still go all out despite a cloudy economic outlook. Given the current economic climate, consumers are […]
-
Member ExclusiveDigiday+ Research: Who will gain and who will lose when (if?) the third-party cookie goes away?
There is endless speculation about what the world without third-party cookies will look like -- or even if it will ever come to be. Digiday asked publishers, agencies and brands about who they think will gain and who they think will lose following the death of the third-party cookie.
-
‘I faked it as hard as I could’: How Mojo Supermarket’s founder broke the Madison Avenue-style advertising mold
Mojo Supermarket founder Mo Said left the big agency world and bet on himself.
