Category
Lifestyle
Assisted Choices
Trend cluster
Category
Dual-Purpose
Payment
Seeking productivity, consumers turn to multifunctional credit card options.
4.3
Trend score
Trend
What is the Dual-Purpose Payment trend?
Dual-Purpose Payment: As technological integration expands, a reliance on speed and efficiency becomes commonplace, prompting a desire for more productive methods of everyday routine. Seeking to make daily transactions more economical, consumers are turning to dual-purpose payment options to add diversity to traditionally single-serving credit sources. Multifunctional payment innovations speak to a desire for more utilitarian, yet equally effective methods of day-to-day purchase.
Trend themes
Themes within the Dual-Purpose Payment trend
Three behaviours holding the trend together01
Dual-Purpose Payment
Consumers are turning to multifunctional payment options to add diversity to traditionally single-serving credit sources.
02
Smart Wallet Technology
High-tech wallets designed to securely store electronic versions of plastic cards are becoming increasingly popular.
03
Wearable Payment Systems
Smartwatches are being developed to function as a payment method, using Bluetooth Low Energy beacons to connect with payment systems.
Industry implications
What the Dual-Purpose Payment trend means for industry
Where the trend changes the playbookFor
Retail
Businesses are optimizing portable sales with card-swiping smartphone cases and innovative payment technologies.
For
Fashion
Disruptive innovation opportunities are available for fashion brands seeking to integrate payment hardware into clothing items, such as payment-enabled suits and accessories.
For
Finance
The finance industry can capitalize on the trend of smart wallets and wearable payment systems by developing new products and services to meet changing consumer needs.
Trend signals
Trend signals for Dual-Purpose Payment
Trend score 4.3 out of 10, from popularity 63%, activity 57%, freshness 8%.
Popularity63%
Activity57%
Freshness8%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
Evidence
Examples of the Dual-Purpose Payment trend
5 featured examples from Jan 8 to Apr 30, 2014CategoryBusiness
Smartwatch Payment Systems
A New Payment Method is Being Developed Using Smartwatch Technology
As more consumers turn to mobile and wearable devices for payments, there is a huge opportunity for financial services companies to explore new payment technologies.
CategoryMarketing
Card-Swiping Smartphone Cases
The Griffin's Merchant Case From CES 2014 Accepts Credit Cards
The Griffin's Merchant Case will be beneficial for retail merchants.
CategoryFashion
Suave Payment Suits
The Power Suit Lets You Pay with the Wave of a Hand
Fashion industry players have an opportunity to integrate technology into their designs, as well as establish partnerships with payment providers and retailers.
CategoryTech
Card-Generating Smart Wallets
The ‘Wocket’ Generates Electronic Versions of Debit and Credit Cards
Opportunities to disrupt traditional banking and finance systems by transitioning to smart wallets and biometric payments.
CategoryTech
Bulk-Free One-Swipe Wallets
Put Your Wallet On a Diet with the Only Coin
Creating new, innovative ways to manage money and simplify financial transactions could disrupt the personal finance industry.
