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How Digital Wallets Are Changing The Way People Consume

Smartphones have changed the world in so many different ways, especially by which we can easily purchase products or services.

Anything you want is literally only a touch away. You don’t even have to carry your wallet anymore, our licenses, credit and debit cards, event tickets. Almost everything we use is becoming digital. 

This hasn’t just changed the way we consume, it has altered the way we think about consuming, more specifically the expectations of what a transaction process is.

Speed and efficiency are everything in this digital age and the new digital wallets are only acting to advance the process.

What Is a Digital Wallet?

A digital wallet is a new term that refers to a function within a digital device or online service which allows someone to store digital cards and make transactions through online means, whether it be in a store or on a website.

You’ve no doubt heard about this and could well have used one, both Apple and Android smartphones have access to these types of digital wallets.

Apple Wallet is a mobile payment and digital wallet service that utilizes cashless technology and is available to all Apple devices and allows you to connect credit or debit cards to your device so that you can seamlessly pay for products just by tapping your phone on the reader, as you would with your card.

Additionally, it gives you the ability to store coupons, memberships, boarding passes, event tickets and much more, as you may a physical wallet. 

Samsung Pay and Google Wallet are two other very similar functions available to their respectively branded smartphones. Mobile Payment_S

How the Self-Pay Landscape is Changing

The ability to store things digitally and pay for anything with a touch of a button is rapidly speeding up the transaction processes.

You can take money out of your bank account through your phone in a matter of seconds, if not less. Anything that you may have had to collect a ticket for or any waiting in a line to pay can easily be skipped.

Now the technology is becoming more widely adopted, this doesn’t just apply to more tech-savvy consumers, anyone and everyone are using it.

For businesses, it offers great opportunities to improve the overall customer experience, yet it can be dangerous if the technology is neglected.

While businesses can expend fewer resources and focus on customer service, any type of interruption to the seamless process, that these digital wallets have produced, will stick out like a sore thumb.

This has meant businesses need to ensure that they can match the capabilities of the mobile wallets, and also cater to them. Failing to do this, customers may feel inclined to move away from the slower, less advanced venues due to the unnecessary waiting.

It becomes crucial for businesses to ensure they can cater to the new trends in transactions, as it will mean existing customers will keep coming back and new customers may switch over from competitors. 

Overall, the new developments in digital wallet apps have presented businesses with an amazing opportunity, yet similarly a threat.

Essentially, they must act on the new technology opportunity otherwise they risk getting brushed over by ever-advancing, tech-savvy customers seeking the most advanced product and service the market has to offer.

Embed’s Mobile Wallet

Embed’s Mobile Wallet is a great feature for family entertainment centers to utilize the new trends and developments in digital wallets.

The Mobile Wallet will be able to be used with Apple Wallet and Google Pay and currently is the only family entertainment center business solution compliant with both Apple and Android smartphones.

Once a user registers on the Embed Mobile Portal they can add the virtual card into their wallet. This will then allow them to use their phones as they would a tap amusement card or arcade play card without losing any functionality and create an overall cashless arcade system.

The Mobile Wallet will mean customers will always have their tap amusement card or arcade play card with them and don’t have to worry about leaving it at home.

Mobile Wallet PlayWave

Conclusion

Technology is changing the way we live so quickly. What once was quite a foreign idea, quickly becomes a huge part of our regular, everyday life.

Just like all the game-changing innovations prior to it, a digital or mobile wallet will quickly become intrinsic to people’s lives.

Physical wallets will become a thing of the past, just how CD players have been succeeded by iPods and music streaming sites.

Through adopting the cashless technology to utilize a digital wallet within your family entertainment center your venue will be able to keep up with advances in cashless technology and keep customers happy.

The Embed Team
The Embed Team
Sharing our knowledge to help you enable your business of fun.

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