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The Sequent Blog

The latest and greatest news, announcements and resources from the leader in digital issuance, HCE and the only truly open wallet platform, Sequent Software Inc.

Reinventing the in-store app experience

Payments-Source--Banks-and-Merchants-Must-Have-Their-Own-Payment-Apps

I recently came across an article on Retail Touchpoints called “Reinventing The Retail App For In-Store Success“. In it Artisan CEO Bob Moul explains why retailers nowadays care so much about native mobile app strategy for in-store experience and how it is essential to maximizing ROI.

According to a Google research, some 84% of shoppers use their smart phones while in the store; this is an opportunity for either distraction (and a missed sale) or for engagement!

A native mobile app allows retailers to utilize tools to gather important data on in-app behavior to maximize ROI. The article builds a very strong argument for retailers to develop and deploy native apps. If you are a retailer who has not thought about its in-store app strategy, one message for you, “Hurry up!”

The article also talks about the hurdles for adoption and continued use of the app. How can retailers persuade their shoppers to download the app and then condition their shoppers to use the app every time they are in the store?

If you are a retailer thinking about your in-store app strategy, the article offers some tips to encourage customers to download the app such as advertising and promotions. Investing in coupon and offer campaigns is obviously a must to engage shoppers and “train” them to use the app while in the store.

Bob’s article points out the power of a native app for retailers but Sequent takes the retailer’s app one important step further. What if native apps could be enabled to transact with a physical point of sale? Payment is already part of the in-store ritual, no training necessary!

Although this must be part of a broader strategy for native apps, embedding payment functionality in the native app is the one thing that gives the shoppers a reason to open the app and interact with  it every single time they are in the store.

By leveraging the recent Host Card Emulation (HCE) technology support within Google KitKat Android operating system, Sequent Digital Issuance and Open Wallet Platform offer simple APIs for app developers to enable proximity payments within their apps using Near Field Communication (NFC), bar code and other technologies. We call it a “wallet platform” because a consumer will want to carry not only payment cards, but all coupons and loyalty credentials of a retailer in their own retailer “mobile wallet” app.

The platform allows consumers to perform payments with their existing banks and retailer accounts and it does not require merchants to change their point of sale equipment or infrastructure.

Every retailer that recognizes the importance of making native mobile apps the single most important touch point with consumers, now has the ability to significantly influence the adoption and use of the mobile app while in-store.

Learn more about how Sequent uses wallet APIs to turn any app into a wallet by reading our new eBook: Turn Any App Into a Wallet:

 

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