Brand wallet is the future of payments! Aussies are transitioning to cashless payments and mobile wallets. The new generation of customers demand to pay digitally. 73% of respondents in a survey say they want to be able to pay the same way they pay online and in-store. It’s expected that by 2025, unique digital wallet users will exceed 4.4 billion globally–rising from 2.6 billion in 2020 and by 2028, the industry—which is currently worth $1.97 trillion—will grow to $11.83 trillion in value.
Brand wallet program benefits customers and the brands. This brand wallet can hold all the currencies at one place making it convenient to customer. Brand currencies like cashback, gift card, refunds, store credits etc all at one point access in the digital brand wallet.
Brand wallets provide a powerful means of building a streamlined online and in-store shopping experience that is unparalleled, and this is where retailers stand to gain the most ground in today's fast-evolving industry.
A digital brand wallet program can help retailers in Australia:
1. Save time and money:
By aggregating all currencies, Qwikcilver’s brand wallet program helps retailers in Australia increase redemption rates and speed up checkout times. This improves the in-store experience by saving time for the customer and the retailer.
2. Provide safer transactions:
Customers have access to a safer method of payment through a wallet program. Retailers can now provide a pin based security during card addition and redemption to a wallet with Qwikcilver’s brand wallet solution. Also Aussies consider wallets to be an easy payment option.
3. Collect customer information easily:
Brand wallet programs provide retailers with valuable insights into customer behavior. You can gain a deeper understanding of your customer base from this data. Qwikcilver’s Qwikwallet further enables you to integrate the solution across all channels or just the selected ones. Customer information is a great asset for your marketing plans and persuade them to make purchases.
4. Improve engagements:
Now that you have insights from the customer data, Brand wallets make it simple for retailers in Australia to customize their promotions based on their customer base.
Conversions and engagement can rise when customers' likes, needs, and interests are taken into account. Additionally, personalization encourages impulsive and repeat purchases.
5. Build & maintain customer loyalty:
Merchant wallet is the technology that can assist retailers with loyalty programs combined with effective payments.
By offering discounts and rewards for using a brand wallet, Australian retailers can help gain customer loyalty. Through a single point of access, you can set up wallets for your customers and distribute gift cards, promotions, and refunds.
Qwikcilver’s wallet program allows customers to maintain different currencies and club different currencies for a single purchase.
About Qwikcilver
Qwikcilver, a pioneer in Prepaid and Gift Card technology, offers a SaaS digital gift card platform that supports omnichannel, multi-region, and multi-currency transactions. Over 250 prominent businesses across the world use our cutting-edge gift card solutions, including Woolworths, Amazon India, Amazon Singapore, Lazada, Grab, Uber, McDonald's, Malaysia Airlines, and many others. Ready to unlock your brand’s full potential yet? Talk to the experts now
Qwikcilver, a pioneer in Prepaid and Gift Card technology, offers a SaaS digital gift card platform that supports omnichannel, multi-region, and multi-currency transactions. Over 250 prominent businesses across the world use our cutting-edge gift card solutions, including Woolworths, Amazon India, Amazon Singapore, Lazada, Grab, Uber, McDonald's, Malaysia Airlines, and many others. Ready to unlock your brand’s full potential yet? Talk to the experts now