Mobile payment users, on average, spend approximately twice as much through all digital channels than those not using mobile payments, according to a new report from business consulting firm Bain & Co.
Banks and financial services
Bank BBVA Compass recently leveraged beacon technology to help it drive 700 sports fans attending the NBA All-Star Game to visit a nearby booth where they could transform themselves into a virtual bobblehead doll.
Mobile is a key part of the feature set and marketing behind the new American Express EveryDay Credit Card, which is targeted at on-the-go moms who depend on their smartphones to help manage their busy lifestyles.
While mobile wallets have attracted consumer interest, they are failing to yield true adoption, with just 16 percent of mobile device owners having made an in-store purchase with their phone in the past three months, according to a new report from Yankee Group.
Instead of solely focusing on money-management tools, Merrill Edge leverages the mobile photo in a new application designed to spur consumers to immediately start planning for their future.
As the mobile wallet competition continues to heat up, Chase has decided to throw its hat in the ring with a checkout solution, but it remains to be seen if there is any space for more services.
With mobile payments growth progressing slowly thanks to ongoing security concerns and a lack of consumer enthusiasm, MasterCard and PayPal’s Venmo are taking a different route to the top by focusing on geolocation.
PayPal has announced its plans to create a payments application for wearable devices, expanding its prowess over mobile commerce.
Starbucks Australia and Major League Baseball are among the first marketers to leverage MasterCard’s new in-application purchasing capabilities introduced today at Mobile World Congress in Barcelona.
BBVA has acquired Simple for $117 million as part of the financial institution’s focus on investing more heavily in the mobile and digital spaces.