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
1. Hyper-niche Payment - Brands are turning to company-specific payment apps to ensure that existing customers keep returning.
2. Mobile Wallet Integration - Payment apps are integrating with wearable technology and loyalty programs across fast food chains.
3. Social Fund-sending Apps - Money transfer services are using social media platforms to tap into their customers' existing networks.
Industry Implications
1. Retail and QSR - The hyper-niche payment trend is impacting retail and quick-service restaurant industries.
2. Finance and Technology - Mobile wallet integration and social fund-sending apps are driving innovation in finance and technology.
3. Food Delivery Services - Mobile ordering, automotive payment, and hyper-niche payment are affecting food delivery services and their business models.
