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What the Experts are Saying About Apple Wallet

Apple Wallet and digital payments are permanently changing the way customers shop. With increasing pressure on retailers to deliver an omni-channel seamless experience, it’s vital to ensure you keep up-to-date with the latest technology to give your business an advantage.

Because removing friction at the point-of-sale is an important challenge for retailers to accomplish in order to create a seamless shopping experience,  stores who use Apple Wallet have a real advantage.

With roughly 30% of US shoppers using mobile wallets to pay for goods and services, the demand for mobile wallets is estimated to grow.

Collect Loyalty, Offers, and Automation’s Apple Wallet integration allows retailers of all shapes and sizes to benefit from Apple Wallet without the expense of developing apps. It allows consumers who are already using Apple Wallet as a payment method to also store loyalty and punch cards, and coupons, making for a ‘Wow’ in-store experience.

We’ve taken a look at what the experts are saying about Apple Wallet:

Tech expert Glen Stansberry from Open Forum and Co-founder of Gentlemint says with Apple Wallet “You can remove friction in the purchasing process, it's a very good thing. Also, people tend to spend more money when they use credit cards instead of cash. Spending with a credit card is more abstract than with cash; it's more seamless. It's also very easy. A single touch of the Touch ID, and the transaction is over. Simple.”

Jerome Laredo, vice president EMEA at Lightspeed says “It’s important businesses are open-minded about adopting Apple [Wallet] to process payments. Customers like the option of being able to pay via their preferred method, as convenience is everything. For example, I remember when corner shops didn’t take card payments - now many do to avoid losing out. It’ll only be a matter of time before Apple [Wallet] is an option at your local corner shop too.”

Rob Harper, director of mobile commerce at PayPal told Marketing Week that Apple Wallet made rewarding customer loyalty simpler “At the moment, you are choosing between five or six loyalty cards and hoping you can find that paper voucher that was in your pocket...I think a major opportunity is to combine all those elements into a single tap to pay at a counter or on a mobile.”

The takeaway

With 64% of consumers saying that they would rather shop at a retailer that provides a mobile payment option, and 61% saying they would spend more at a retailer if they could use a mobile wallet to make purchases. We’ve already seen this in action with Whole Foods who saw a 400% increase in mobile payments after introducing Apple Pay.

As more retailers switch to digital payments, it’s important to have a strategy for introducing Apple

Wallet into your business. Ensuring your point-of-sale and loyalty program both are Apple optimized is a great way of making sure this transition is as smooth as possible.

Do you use Apple Wallet? Tell us about it in the comments below.