Payments News

Retailer Wallets Load Up

Jan 31, 2019

Benefitting from a built-in customer connection, retailer wallets adroitly tap into shoppers’ purchasing habits in ways unavailable to the big tech wallets.

Retailer mobile wallets are proliferating in part because the consumer can get something that she can’t with any of the tech-based apps. That is a high degree of personalization that not only includes payment preferences, but also the ability to earn loyalty points, receive special offers, and redeem rewards.

Consider the sheer volume of them now. The Starbucks Corp. wallet, which debuted in 2010, may get a lot of recognition because of its success, but other heavy hitters have joined the fray. Walmart Inc.’s Walmart Pay has been available since 2016, the same year CVS Pay from CVS Health Corp. and Kohl’s Pay from Kohl’s Corp. emerged.

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