Mobile Wallets: What’s The Value Proposition?

by Snarketing 2.0

by Ron Shevlin

Mobile Payments Today reported on a Finextra study of banks’ mobile wallet plans. Regarding mobile payments, the study found that:

“81% of banks are looking to add value beyond the transaction, including providing relevant offers to consumers at the point of sale.”

My take: Add value to whom?

To consumers? Really? You’ve got research that shows consumers want more offers thrown at them?

Does your research also show that consumers want to walk down a busy city street and have offers popping up on their mobile devices as they approach every friggin’ store on the block?

Oh, I see…your research shows that consumers want “more relevant” offers.

Good luck with that. Relevance is a slippery notion. Many marketers suffer from delusions of relevance. Relevance can’t be quantified or measured, it’s highly subjective, and worse, it’s a transient condition.

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