Feb 28, 2017
The digital and mobile payment evolution has enhanced the way merchants engage with and reward customers: digital wallets.
A digital wallet payment is a non-cash payment that allows customers to make purchases from their smartphones or other devices by acting as an electronic wallet, digitizing payment information.
Digital wallets are not just a convenient payment method for consumers; they are also a way for merchants to engage with their customers in a more meaningful way. They are, in fact, a new and powerful marketing and loyalty platform.
To better understand the role of digital and mobile payments and to unearth insights that can help merchants prepare for tomorrow’s payment strategy opportunities, JPMorgan Chase commissioned Forrester Consulting to assess the current state of digital payments from both a consumer and merchant perspective. Conducted in the fall of 2016, the studies consisted of a quantitative survey of 1,500 18+ US consumers who go online at least weekly, and a survey of 804 merchants across a variety of industries who are responsible for their company’s payment decisions.