Nowadays, a mobile wallet app is highly in demand. PayPal, Paytm, Amazon Pay and Apple’s Wallet are some of the popular e-wallet applications. All the mobile wallets are extremely helpful to users as it eases the transaction of money. You can pay bills, recharge and even shop online with these apps. Now business owners are also using the mobile wallet applications for transactions of their business amount.
A consumer can also use wallets to pay in stores when shopping or eating out. Another fact about payment apps is that not many foods and beverages companies have created their own wallet apps like Starbucks. In the USA, Starbucks earns more through their mobile wallet. Its representatives in an interview said, “There was a 30% increase in a transaction made through Starbucks mobile app.”
Thus, as far as mobile wallets go, they drive mobile payment, brand management with customers and build more infrastructures for existing businesses. The best part about wallets is that it allows the consumer to use master and visa cards without carrying it.