Offering convenience, brand-specific digital payment systems encourage loyalty
Implications - Retail and QSR brands are turning to company-specific payment apps to ensure that existing customers keep returning. Providing a more streamlined in-store experience by consolidating loyalty program perks and payment, this customization of the ease-of-payment shift highlights the branding opportunity companies have when it comes to emerging technology.
Trend Themes
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Hyper-niche Payment — Brands are turning to company-specific payment apps to ensure that existing customers keep returning.
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Mobile Wallet Integration — Payment apps are integrating with wearable technology and loyalty programs across fast food chains.
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Social Fund-sending Apps — Money transfer services are using social media platforms to tap into their customers' existing networks.
Industry Implications
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Retail and QSR — The hyper-niche payment trend is impacting retail and quick-service restaurant industries.
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Finance and Technology — Mobile wallet integration and social fund-sending apps are driving innovation in finance and technology.
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Food Delivery Services — Mobile ordering, automotive payment, and hyper-niche payment are affecting food delivery services and their business models.
