Why Combining Payments and Loyalty is the Answer
A couple of weeks ago we posted an article on our social media that I think offers the best example of where we think mobile payments is heading and what we are hoping to do with our product.
When it comes to mobile technology, it’s hard to imagine that a sector counting in Apple, Google, Square and Paypal is lagging behind a company that has nothing to do with tech. That is the case today and the company in question is Starbucks.
When it comes to putting tech into bricks and mortar there seems to be two clear options: Payments and Loyalty, some great companies offer each one of these but not many offer both at the same time, and that’s where the Starbucks Wallet app has found the answer.
There are no crazy acquisition strategies, or mind blowing disruptive technologies that we can expect to see here only years from now. The reality is the Starbucks Wallet app is the most simple it could possibly be, but there is one clear focus that sets it apart from anyone else, it offers a win-win for the retailer but also the consumer.
There’s no need for people to carry around rewards cards or sign up to multiple platforms in the hope of getting a standard free coffee after X amount of purchases. If you’re buying something, you’re obviously going to pay for it, so why not create an app where you can pay, and get instantly rewarded for every purchase. What could be more rewarding than earning money as you spend it. For the retailer, what better way to build a loyal customer base than to make them feel they are getting something back, and in turn it allows them to understand what their customers actually want and create better products to suit them.
That sums up everything inVibe is today. It pays to give back to the customers, and when everyone involved can benefit from a single solution, it’s a lot easier to work towards the same goals. The above mentioned article can be found here and please head over to our Facebook Page to keep up to date with other great stories happening every day.