Payment Apps and Mobile Wallets

Mobile wallets and payments has gained incredible momentum in last few years. With increasing popularity of NFC mobile payment solutions, such as Apple Pay and Android Pay along with PayPal like payment gateway, the retail industry has experienced a new phase of shopping both online or offline. As these methods are easy to use, users in masses across the world have started accepting and using it at an unbelievable rate for a hassle-free transaction on the go.

Physical stores are happy about faster payment processing that leads to the reduction of the time customers spend waiting in a queue, which brings a smile on the customers and gives them 100% satisfaction. Retailers are further looking forward to integrating their loyalty programs with mobile payments and mobile wallets to make transactions a much better experience.

Creating a Truly Omni-channel Experience

Guiding customers along the purchasing journey and offering tips at crucial touch-points is a good way to maximize a retailer’s revenues. Mobile app helps strategize a profit-oriented business plan that lures customers over well-planned marketing campaigns. Yet, it’s extremely important for retailers’ to understand and remember the phrase that ‘CHANGE IS CONSTANT’. To be a successful venture, they need to keep pace with the constantly evolving mobile technologies.

Social Media Integration

Social Media is the strongest pitch that could make a dead deal look fruitful. From budding Entrepreneurs to Enterprises, professionals across the world have understood that Social media add laurels and recognition to marketing strategies. Its 2017 and Shoppers interact with their favorite brands via social media apps and follow their tribe for valuable feedback.

Full Information Access

Before buying a product, shoppers prefer to access reviews and other users feedback. Physical store has this advantage over online store where the user gets a chance to check the look and feel of a product or test it before purchasing. However, sometimes to make a decision many people prefer to collect more relevant details than just product characteristics. The retailer could step up their game by providing full fledged information about the product including a section for reviews and customer feedback which will retain user from postponing their purchase decisions.

Geo-Targeted Mobile Alerts

Beacon technology or BLE has a major role to play in upgrading the alert and notification system. The beacon-based app helps retailers in wooing customers across the immediate proximity of a store with a custom push notifications. High-end stores have integrated this feature when user get a notification with tantalizing offers that leads overwhelming user experience and 100% satisfaction.

Loyalty Programs

Be it travel or medical, users prefer to choose brands with better loyalty programs that offer better benefits. Hence, retailers have come up with best of loyalty programs that they could offer with their mobile apps. First, it helps fosters customer engagement, further lure customers to install the app, which gives a hike to the install base.

The above list is just an intro of a much longer list of benefits that mobile app renders to various industries including retail. No wonder you are a looking forward to stepping into the game of Retail business and have an idea to revolutionize the Retail industry with an actual competitive advantage.

Get in touch with the best Retail app developers or drop your queries at sales@brainmobi.com to help you evolve your idea weaved with latest technologies.

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What makes users reluctant to digital money?

Loss of user data is the main reason why high-profile retailers and customers become reluctant to put their trust in mobile payment technology. With the hike in usage to 1 out of 5 successful transactions, mobile payment has led the companies to barge into development approach and frameworks implemented for self-assurance. From security to the winning layout, top mobile wallet app developers have been implementing the best approach in order to uplift mobile payments usage off the grounds.

In this blog post, we have sorted some major factors which offer a great deal of concern for top wallet app developers while building an inevitable mobile wallet. A mobile wallet that offers well-rounded services shelled inside the most secure connotations.

Factors to consider while developing a robust Mobile Wallet:

1. Payment status

   Status of every transaction should be updated to users.Payment status will promptly update the status of each payment so that all parties involved know at each moment where their money is and what is happening to it. You can imagine that when a transaction fails or something goes south, your users will want to know what is happening. Leaving them in the dark will only cause them to have less trust in your app.

   Users always need an easy solution to problems. If you could solve that problem with your app. You surely can make a place in Mobile App world.

2. The winning user interface

   Easy to understand layout always win the battle with a great margin. Avoid confusing the users with complex designs and hard to handle functionality. Mobile wallets should be lightweight and easy to install.

3. Reward points and Coupons

   Some of the best coupons, deals, discounts and loyalty point schemes will appear in mobile wallets as marketers embrace this new way to engage customers. Coupons and discounts have always attracted a lot of crowds. Users always like to have discounts and offers. This drive traffic toward your website or mobile app. These coupons can be used for any specific brands or the whole range of things. Offering discounts and coupons and cash back will drive users to use your app more and spend more amount of money shopping or doing a transaction.

   Starbucks was an early adopter, with its mobile app that enables buyers to order and pay for beverages via their phone, and skip the line. The app registers loyalty points in the user’s device for each of the 9 million mobile transactions it processes every week and integrates discounts and coupons. It has already seen encouraging results: Mobile transactions now account for 20 percent of in-store sales, more than double the mobile transaction sales figures from two years ago.

4. Location Based services

   Save your customers from having to go shop hunting. What that means is that they should gain access to information telling them exactly where your app can be used.This will help you grow a business as well as make it easy for customers to locate stores and service around them which accept payment via your mobile app wallet gateway. By implementing a location based service that will alert them about nearby supporting stores and businesses, you can boost your app’s popularity because more people will know about more places where it can be used.

5. Security

   Security is the most important concern to implement across mobile wallet app where consumer and retailer could trust the coded functionality to maintain the confidentiality. Cybernetic attacks can cause too many problems to an app as well as the customer. Being reservoir to private data which could not be shared at any cost makes mobile wallet prone to hacking. This could end up a company and it’s all efforts. This is why security should be considered the top priority and should be worked on it accordingly.

   As mobile payments evolve, top app development companies are working on ways to enhance security and boost customer trust. Precautions include adding new layers of fraud protection, such as a token system, where transactions can be completed without sharing sensitive data like a credit card number and its expiration date.

   The app should be built carefully taking into consideration of everything. The transaction should be hassle free and easy to use. The faster the app open and completes the task if could help in getting the application famous.

To build trust, providers should work on demonstrating how quickly systems can recover from an attack and how customers are covered. Moreover, Retailers will also need to invest in mobile fraud detection and prevention technologies to create a secure and trusted relationship with customers.

If you take into consideration everything that we have gone over in this article, there is no doubt that you will be able to create an app like payment that will spark the attention of important clients. It is important to keep in mind that people are always looking for easier ways to do stuff, and by accommodating this demand you can easily secure yourself a sweet spot in the app market. Do you have a sparkling idea which could revolutionize the whole scenario of mobile payment?

Our apps set a standard of quality while building traction among target audience and turn them into loyal users. Get in touch with our top wallet app developers to mark down other competitions in terms of services.
Drop your queries: sales@brainmobi.com

The post Digital Money and Mobile Wallet soars the Future of Payment appeared first on Mobile App Development | BrainMobi Blogs and News.