Mobile wallet programs see increased customer adoption when they incorporate loyalty programs, finds new research conducted by Ovum on behalf of Amdocs, a provider of customer experience solutions.
The survey, which solicited responses from 1,800 mobile financial service solution (MFS) users and 42 service providers, found that suppliers are not offering some of the convenience shoppers want the most.
While 80% of mobile buyers said that it was important that they are able to manage multiple loyalty cards in a single handheld, digital wallet, less than a third of providers indicated they are able to support the necessary integrations for it. And, though nearly half of those surveyed said they’d like to have the freedom to share their loyalty credits with friends or family members, only 29% of MFS providers felt that was an important option to have in place.
There’s a big opportunity to increase revenue through mobile wallets. The research found that 51% of customers would use an MFS is they were rewarded for doing so. 100% of respondents said that a tiered loyalty program is an incentive for using these services more, and again, only 28% said they didn’t even know if they offered a tiered program.