Mobile Wallets are native mobile apps that come pre-installed on both iOS and Android devices. For all of you iPhone users out there, that app is called ‘Wallet,’ while the Android alternative is named ‘Google Pay.’ These apps make it simple for smartphone-toting customers to save, store, and revisit things like loyalty cards, coupons, offers, boarding passes, event tickets, VIP passes, and more for convenient use on their mobile devices.
Mobile Wallet also benefits marketers because it provides the ability to pass these pieces of digital collateral directly to their users, thus allowing brands to streamline content and boost engagement on a novel digital front. Because it’s simple to use and easy to add to existing marketing streams, Mobile Wallet empowers marketers to quickly create and deploy mobile offers that prompt subscribers to download and save offers to their smartphones.
According to the 2016 Vibes Mobile Consumer Study, today’s consumers understand the inherent value and convenience of mobile offers – about a third (32%) of all smartphone users currently utilize their Mobile Wallet as a passbook for offers, loyalty cards, and more. 94% of consumers using Mobile Wallet have said that they’re likely to save personalized Mobile Wallet offers and coupons sent by brands, making it a highly relevant and actionable communication stream for many marketers. In fact, since the announcement of Apple Pay in September 2014, Vibes has seen a 1,143% increase in Apple Wallet content installs across 2,000+ campaigns run by more than 30 leading brands. The signs are clear: Mobile Wallet adoption is only going to grow as smartphone users begin to recognize its convenience and versatility and become comfortable with its capabilities.