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Mobile payments and digital currencies are replacing traditional payment systems. In the future, payments will be made from smartphone to smartphone and consumers and merchants will be transacting in digital currencies and consumers will receive digital rewards.
Mobile Payments
Making Payments An Engaging, Convenient and Rewarding Experience
It’s no secret that many people — especially the younger demographic — prefer to skip the cash and pay with a credit or debit card. Some of the more tech-savvy have ditched conventional cards altogether and are storing their payment and loyalty card information solely on their smartphones or wearables.
As a business owner, you want to accommodate these customers by offering convenient and easy-to-use technology that empowers them with better experiences that include choices on how to pay, order and more. That’s where Perk Labs can help.
Perk Labs’ is the parent company of Perk Hero, which offers the most engaging mobile ordering, payments and rewards platform in the market; focusing on a positive, fun, personalized user app experience.
Our customer-centric solution helps businesses provide compelling experiences that invest in your customer relationships at every point along the customer journey (acquisition, retention, referrals, reviews), without the use of expensive marketing campaigns.
From the consumer perspective, our payments and loyalty solution allows your customers to:
- order & pay quickly and easily
- store digital receipts
- instantly collect points, coins, in-app rewards dollars
- engage in gaming aspects such as obtaining ‘hero status’ by leveling up through continued visits, purchases and quests (challenges)
What makes us truly different? Our white label solution combines payments, rewards and delightful experiences all in one place. Through each transaction, your customers are rewarded for their loyalty by receiving ongoing offers and incentives. At the same time, your business realizes impressive returns on its digital investment: increased foot traffic and ultimately, increased revenue.
The rise of mobile has reshaped customer expectations and changed whole sectors to incorporate digital experiences that are engaging, customized and frictionless. In a world where smartphones are part of everyday life, Perk Labs is at the forefront of this change.
Let us help you leverage mobile technology where it can have the biggest impact – on customer loyalty.
Contact us today at info@perklabs.io
1. Allied Market Research. “Global Mobile Payment Market Expected to Reach $ 4,574 Billion by 2023 – Allied Market Research.” Feb. 22, 2018. https://www.prnewswire.com/news-releases/global-mobile-payment-market-expected-to-reach–4574-billion-by-2023—allied-market-research-674829713.html
Loyalty Rewards
At Perk Labs, we believe that a fundamental tenet of payments is loyalty rewards.
Loyalty programs in North America are attracting more and more people to their ranks, a rising trend observed across all sectors including retail, financial, travel and hospitality. According to the most recent Colloquy Loyalty Census, memberships in the United States grew 15% over the two year period ending in 2016 hitting 3.8 billion compared to 26% growth rate reported for the prior two year period. As stated in this report, Canada saw a growth of 35% – 175 million verified memberships – in 2016. The retail sector accounts for 42% of all memberships, followed by travel and hospitality at 29% and financial services at 17%.
However, while the market is growing, problems still exist. In the U.S., 54% of memberships were reported inactive in 2016. This indicates that loyalty programs are failing to keep consumers engaged. Furthermore, the slowdown in the rate of growth of memberships (from 26% in 2014 to 15% in 2016) signals a maturing loyalty market in which merchants need to improve their strategies in order to build lasting relationships and retain a loyal consumer base. Customers are more demanding than ever and expect personalized experiences that are tailored for their needs.
Overall, the market data points to a window of opportunity for disruptors who bring technology, simplified user experience, and streamlined payment and consumer workflow to the loyalty market in order to add value for both the customers and the merchants.
Customer Experience & Continual Improvement
We believe that the key to our success is our relationship with our merchants and users and we are constantly working to improve those relationships. Based on feedback from our merchants and users, we are continuously innovating and updating our products to improve our customer experience. We encourage all of our employees to regularly visit our merchants and communicate to the rest of our organization how our business is working.