Consumers in France are lucky to be the first to test BNP Paribas' new Wa! Mobile Wallet, a multi-bank, multi-brand system that combines payments, shopping coupons, and loyalty programs. The mobile app was developed by BNP Paribas, the French bank, in partnership with digital security leader Gemalto and app developer RMW.
Throughout 2017, BNP Paribas has been piloting the Wa! Mobile Wallet in French Carrefour locations. Carrefour is the world's second largest retailer, with 12,300 stores across 35 countries.
Like Apple Pay and others, Wa! allows consumers to quickly and securely pay for purchases using their smartphones alone. Depending on the device, consumers can validate payments either by using their fingerprint or by entering a PIN that has previously been confirmed when enrolling with the app.
Secure Mobile Wallets
BNP Paribas' Wa! Mobile Wallet is Piloting at Carrefour Stores Across France
Trend Themes
1. Multi-bank Mobile Wallets - The trend of multi-bank mobile wallets is disrupting traditional single-bank payment systems, offering consumers greater flexibility in payment choices.
2. Combined Payment and Loyalty Programs - Mobile wallets that combine payments, shopping coupons, and loyalty programs are disrupting traditional loyalty program models, offering customers a convenient and streamlined experience.
3. Mobile Wallet Pilot Programs - The trend of mobile wallet pilot programs provides opportunities for retailers and financial institutions to test and refine mobile payment and loyalty systems before full-scale implementation.
Industry Implications
1. Banking - The banking industry can benefit from the multi-bank mobile wallet trend by partnering with other financial institutions to offer customers a wider range of payment options.
2. Retail - The retail industry can benefit from combined payment and loyalty programs by providing customers with a more seamless and rewarding shopping experience.
3. Mobile App Development - The trend of mobile wallet pilot programs provides opportunities for mobile app developers to work with financial institutions and retailers in creating and testing innovative payment and loyalty app solutions.