Major food brands like Starbucks and Dunkin' Donuts are adding new and innovative features to their app such as the ability to push rewards programs, coupons, mobile order-ahead, and custom marketing.
So you might ask yourself what is the point of developing specific mobile wallet apps when Apple Pay and Android Pay are global mobile wallets apps that and can be used in multiple retailers?
According to the report, these new features are accessible for Retailers with large addressable user bases who are loyal, repeat visitors that will see their mobile wallets continue to be popular with consumers.
We mentioned it in previous articles, loyalty will be more and more important for retailers in 2017.
However, adoption will begin to decelerate as a result of increased competition by 2020. As universal mobile wallet players like Apple Wallet and Android Pay begin to add effective loyalty programs and coupons to their offerings, adoption for retailer-based mobile wallets is likely to slow down because these offerings are their main marketing points.