Brands are consistently upgrading to introduce improved features to make customer experience effortlessly seamless and hassle free. Shopping related payments and money transactions have been made extremely easy with the introduction of Mobile Wallets and Mobile Wallet Rewards. Unlike the traditional methods that required customers to carry plastic loyalty cards everywhere, with the help of a mobile wallet, all important shopping details can be safely stored in one fixed location. Mobile wallets are extensively used as a mode of payment after most businesses adapted to digitization. While a mobile wallet allows customers to adapt to a safe channel of monetary transaction, mobile wallet rewards make sure that all the incentives and bonuses that the customers are rewarded with are exclusively stored and the rewards are only bestowed to those having a mobile wallet linked with the business.
What are Mobile Wallet Rewards?
Mobile Wallet Rewards are simply rewards that are exclusively given to customers that use a mobile wallet to place orders with a business. Mobile Wallet Rewards allow customers to use their rewards efficiently and smartly as the rewards are available directly within the customer’s mobile wallet.
Features of Mobile Wallet Rewards
Mobile financial services have been improving and upgrading to facilitate seamless shopping experience from anywhere to help customers indulge in secured yet convenient monetary transactions. Customers today expect a fast and flawless financial system attached to brands to ease the shopping experience, making their time worthy. Many of us have already forgotten about plastic loyalty cards that had to be carried with us all the time, in order to redeem pending rewards. Enhancing connectedness and extensively backed by technology, smartphone wallets provide highly secured financial solutions that make payments incredibly easy. Mobile Wallet Rewards facilitate secured transactions and give customers the opportunity to fully utilize their rewards deposited on their Mobile Wallet. Below are some key features that make Mobile Wallet Rewards effective.
Mobile Wallet Rewards bolster Loyalty Programs
With Mobile Wallet Rewards, a brand can successfully leverage new opportunities to increase loyalty and enhance engagement. Recently Urban Airship has released a survey which distinctively states that over 73% of consumers are more likely to join a loyalty program when points and rewards are promptly updated on mobile wallets. The study mentions that almost 54% of consumers are currently using mobile wallet rewards and wish that more brands implement this channel for their convenience. Rewards received through mobile wallets help customers keep a track on various offers and coupons.
Other than logging into decade old channels like emails and SMS to preview current balance and list of rewards to be redeemed, Mobile Wallet Rewards merge all channels of the brand ecosystem to help customers get important shopping related insights from one particular channel. Several physical coupons expire without being utilized and are often forgotten about. This hampers the brand’s loyalty program in bringing desired results of engagement and loyalty. Mobile Wallet Rewards completely eliminates this possibility as it ensures dynamic engagement with smartphones that we carry with us always and exclusive reminder functionality that keeps us connected with the brand, promoting brand loyalty and overall helping the brand’s loyalty program thrive.
Benefits of using Mobile Wallet Rewards