Overview
Merchant mobile pay apps are proliferating, but most lack a mix of integrated features needed to entice consumers to adopt and use them. Customers require engaging features beyond just making a payment if they are to use a merchant’s mobile pay app frequently. Features such as loyalty rewards, mobile ordering, and target marketing drive customer engagement and foster long-term customer attachment to a retail brand.
Smartphones have become a mature consumer market, and mobile apps are ubiquitous, covering practically all product and service categories. Merchants need to develop their mobile payment apps not only so smartphone users can buy things easily and but also with compelling functionality that will keep them engaged so they become steady customers. Mercator Advisory Group’s latest research note, Making Merchant Mobile Payment Apps More Engaging examines various merchant mobile apps and highlights the compelling features and functionality that drive consumer adoption. The research also examines successful mobile app features that keep customers keep coming back.
“Mobile payment apps need to be more than just transactional—they should engage and entertain the customer. For example, the Starbucks mobile app sells the experience not just the coffee,” comments Raymond Pucci, Associate Director, Research Services, at Mercator Advisory Group, and author of the research note.
This document contains 10 pages and 2 exhibits.
Companies mentioned in this research note include: Apple, Chase, Citi, CVS, Dunkin’ Donuts, Excentus, Google, IBM, Kohl’s, Lyft, MasterCard, PayPal, Samsung, Starbucks, Uber, Verifone, and Visa.
Highlights of the research note include:
- Mobile app features that drive higher adoption
- Key aspects of Starbucks mobile app
- Merchant categories best suited for mobile apps
- Current and future players in the mobile app market
Learn More About This Report & Javelin
Related content
Co-Branded Credit Cards 2024: Top Issuer Market Review
Co-branded credit cards, a significant segment of the U.S. consumer credit market, are poised for further growth. These products are not just popular but also essential, attracting...
Disbanded Co-Brands: When Credit Card Joint Ventures Fail
The robust credit card co-brand market represents more than 300 million U.S. cards. However, the relationship requires partnership and cooperation between all parties, and successf...
Credit Card Issuance by Small Issuers: Strategies, Risks, and Options
Community banks, credit unions, and banks of all sizes face an imperative of having a presence in payment cards. With almost 600 million credit cards in the United States and 230 m...
Make informed decisions in a digital financial world