More than 15% of US smartphone owners will use mobile wallets by 2018, according to new Forrester research — making digital wallets an attractive marketing platform beyond the next payment tool.
Already, 27% of marketers plan to use mobile wallets this year as part of their marketing toolkit, up from 14% in 2014. And consumer interest is there: When asked what mobile wallet services are of interest, loyalty programs top the list, followed by access to coupons, discounts, and special offers; the ability to compare prices; and the ability to find product information. New entrants are answering these latest needs, with services that enable brands to add value beyond digital payment solutions.
Marketers must evaluate which partners are best suited to support brand goals and to complement existing integrated apps, writes Forrester. Among digital platforms, Alipay, Apple, and PayPal are best positioned to play a key role in the mobile wallet wars, while Google still lacks merchants’ support and consumers’ trust.
To learn more about this research, visit the Marketing Leadership Blog.