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Samsung Pay customers should be very pleased with the mobile wallet’s new feature.
Samsung’s proprietary mobile wallet added loyalty card support on Wednesday. The wallet will now support "all U.S. retail membership and loyalty cards," along with some insurance and personal identification cards, reports ZDNet . Users can store up to 100 membership or loyalty cards in the wallet and scan the barcode at checkout, according to The Verge .
Mobile wallet users crave loyalty and rewards programs. Almost 25% of users want to use their mobile phones to manage their gift cards, loyalty programs, and rewards cards, according to the U.S. Federal Reserve.
And customers actually use these services when available. Within a few months of this feature’s launch on Apple Pay, approximately 25% of cards loaded into the mobile wallet were proprietary store or loyalty cards.
This new feature could help boost Samsung Pay’s biggest advantage, which is that customers can use it at any terminal that accepts either magnetic stripe or NFC-based payments. That has led to solid adoption of the mobile wallet in the early going, and this loyalty feature should only help boost that adoption.
The loyalty card feature could increase Samsung Pay usage because rewards programs incentivize customers to make purchases frequently. This new feature streamlines the rewards process, so customers should be more inclined to use Samsung Pay as a result.The introduction of this new feature is the latest piece of the rapidly evolving payments ecosystem. Mobile wallets are flooding the market, and new technologies are changing the way that we pay for goods and services.Evan Bakker and John Heggestuen, analysts at BI Intelligence , have compiled a detailed report on the payments ecosystem that […]
