E-Wallets: Changing The Way We Use Our Loyalty and Reward Points

E-Wallets: Changing The Way We Use Our Loyalty and Reward Points

The introduction of loyalty programs in E-wallets by brands across a variety of segments, such as food & beverages, airlines, petrol stations, drive-thru services, hotels, and financial services has continued to enhance the user’s experience and increased the mobile payment usage. It’s predicted that ‘loyalty’ will continue to be a large driving force behind the increasing growth of mobile wallets users globally. 

A recent survey by Deloitte’s “2016 Holiday Survey” found that only one in four mobile phone users make mobile payments using a retailer app, especially Millennials. 13% use mobile wallets for in-store payments. Interestingly enough, Points’ “State of Mobile Wallet Loyalty and Engagement in 2016” study, 94% of consumers would use mobile wallets more frequently if they could earn and redeem loyalty rewards. 

Helping customers manage their loyalty programs has made the way easier, while also boosting the engagement between customers, giving them a more personalized and enhanced user experience. Users of loyalty programs are no longer faced with hassles in terms of managing multiple memberships and keeping track of various loyalty or reward points etc. Increasingly, businesses are introducing various features to their E-wallets to give customers more value. 

The Most Common Features Found in E-wallet

Reports have shown that customers are more prone to enjoy the offers & incentives involved in loyalty programs provided through E-Wallet to make even more future purchases. Due to the fact that points which are earned have a wider variety of usability compared to conventional loyalty points programs such as Air Miles and petrol points which tend to be unused due to limited spending options or restrictions. For instance, getting rewards for free shipping, access to limited edition products, in-store redemption, earning free Bitcoins, even redeem free flights or drinks!

A great way to build relationships and retaining customers. Companies like Starbucks, Sephora and Amazon Prime are great with how they are managing their reward programs.

With new advances in technologies combined with the emergence of blockchain over the past few years, the scope and usability of digital wallets have become much wider which reflects the growing transition of users preferring more mobile-centric solutions. 

The divergence of increased mobile usage has opened many opportunities and has changed the way consumers use their devices. They have found themselves with a larger number of platforms to explore and engage with brands. Flexible capabilities and features are offered by E-wallets that can be catered according to specific business needs. There’s never been an easier way for businesses to gain a personalized and proactive connection with customers.

***

Previous How Artificial Intelligence is Impacting Ecosystems Of The Future
Next  WIN Exclusive Luxury Brands with LuxDraws!

You might also like

What’s new in the recent Everus App March 2019 Update

The latest version of Everus App is available for 1.1.6 Update (Play Store) and 1.0.9 Update (App Store) on your eligible device. The new Everus App Update will help you

Security Advice: Protecting your cryptocurrency assets

Keeping your assets secure is the most important task when managing your cryptocurrency, especially for users who transfer, exchange or trade regularly on exchanges. Cryptocurrency exchanges still remain vulnerable to

What’s new in the recent Everus App Feb 2019 Update

The latest version of Everus App will automatically download the 1.1.4 Update (Play Store) or 1.0.8 Update (App Store) on your eligible device if you’ve turned on auto-update effectively on