The True Potential of Wallets

Why you need to learn fast:

The majority of attention on wallets is cash-less payments.  

And we have also learned that wallets can hold tickets and reduce the need to print.  We already use our mobile wallets for airline, transport and event tickets.

These ‘single use’ applications make wallets convenient and useful.

This article goes further to point out the value that is available through intelligently linking digital wallets to a variety of added-value applications.  

This shift can truly change the way people engage and access services.

And cloud services make integration much easier.

Perhaps you use your mobile device to store your loyalty card and receive discounts.  Again, a useful ‘single-use’ application that saves time and money.

But what if this form of secure digital activation could connect services and make things happen without the hassle of logging into web sites and sharing sensitive information?

This is the true potential of digital wallets.  

We call it the digital wallet eco-system.  You will be amazed at what is just around the corner. 

For example, your digital wallet knows your ID and now can also store your credentials – eg. your insurance details.  So, you could immediately update insurance details when you make a major purchase.

Your wallet knows your loyalty ID, so why not receive personalised offers specific to the preferences you give your wallet – plus reduce spam! 

Your wallet can hold a licence and immediately record your hiking trip (remember having to physically write in log books in case you got lost?).

Your wallet works in real-time so updates can happen specific to activities, location, time and pre-set criteria.

The world of compliance will change from User Burden to Empowerment.  

This means less burden on people to log in, download, fill in forms and update a static, back-end computer and more time to dynamically enable and record activity on the go.

The identity world is improving to ensure security, speed and shared information through use of tokens that abstract the real data and still prove your credentials.

This world will be less open to cyber fraud and stolen data.

People can do more with less effort and the shift from User Burden to Empowerment is the key.  In fact, we expect people to enjoy the experience without even knowing they are using a mobile wallet. 

Learn more about how wallets will change relationships and enable services by contacting us today.

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