Tag: digital wallet

PYMNTS says faster payments are a win-win for consumers and merchants in travel and hospitality – and an area where traditional payments may yield to innovative digital solutions.

Customer communications for Instant Digital Issuance (IDI) can boost engagement and spend! Our card marketing experts have assembled an IDI overview with definitions and best practices, including examples from Chase, SoFi, Venmo, Affirm, Bank of America and Chime.

The time is right for FS brands to focus on digital wallets. American consumers are willing to try new payment methods, and digital wallets lead as the crowd favorite. In fact, forecasts indicate that the digital wallet market will grow 18.9% year-over-year through 2028.

In our work with clients and prospects at some of the industry’s largest and most well-known brands, three topics dominated conversations in 2022: the influence of fintech, credit card acquisition trends and digital opportunities. These top FS marketing blog posts offer details and strategies for each!

With 4X higher spend on default cards and dramatic growth in digital wallets, there’s a clear opportunity for FIs to incentivize customers to designate their cards as the default in mobile wallets. Here, we’ve outlined marketing best practices that can help with messaging and communications to encourage this action.

Whether grabbing a soda at the vending machine, paying for a rapid pickup order from within the Panera app or making a point of purchase transaction at a local Staples store, the default card is the easiest – and most often chosen – payment method. But issuers aren’t targeting this issue.