Why your business should start accepting digital wallets in 2021

Digital wallets may once have been a pipe dream, but now they are everywhere, with some of the world’s biggest brands accepting them. I
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Published 9th Apr 2021, 10:57 BST
Updated 14th Apr 2021, 07:11 BST
In 2021, customers don’t want to have to waste their time pulling out their wallet when they already have their phone in their handIn 2021, customers don’t want to have to waste their time pulling out their wallet when they already have their phone in their hand
In 2021, customers don’t want to have to waste their time pulling out their wallet when they already have their phone in their hand

Businesses that don’t accept digital wallets could be missing out. But why should they make the change?

If you aren’t familiar with the concept of a digital wallet then you should know that it is similar to your physical wallet, except everything is there on your smartphone.

As a business owner, you should be looking at ways to drive sales using technology and, according to the experts, digital wallets can help with this.

Omnichannel Experiences

In 2021, customers are looking for a seamless way to make payments and they don’t want to have to waste their time pulling out their wallet when they already have their phone in their hand. With the use of digital wallets, it is possible to pay both online and in-store with the use of technology.

Business owners should be looking at ways that they can ensure everything can be done from one device. If a customer wants to shop on their smartphone, they will also want to receive marketing messages and be able to pay from it. If they need to go find their bank card to enter their details, they might just avoid making the purchase altogether. This is something to seriously consider if you are a business owner in 2021.

Improving Customer Experience

If you want to increase the number of payments, you need to make spending easier for your customers. For this reason, you should really consider accepting digital wallets in 2021. Gone are the days that websites will only accept payments from bank accounts or bank cards, e-wallets are much more popular in 2021. Take https://www.casino.com/uk/casino-games/ for example, you’ll find a huge range of payments are accepted at this site.

Customer experience should be friction-less with all barriers removed. If you find that your customers are reducing payments, it might be time to upgrade their experience.

Improving Loyalty Experience

Loyal customers are some of the easiest customers to target and often, using a loyalty scheme is the best way to get them to come back for more. If your company has an existing loyalty scheme but you aren’t accepting digital wallets, you could be missing out. There are tons of companies out there who allow their customers to upload their loyalty card for easy access.

Don’t Get Left Behind

These days, customers know about the technology that is at their fingertips so they will know if your business is lagging behind your competitors. If you aren’t accepting digital wallets then you could find that they go elsewhere, both online and in-store.

It is important that you are not letting yourself get left behind. The truth is that digital wallets can be extremely secure, sometimes even more secure than a physical wallet. So, what are you waiting for?

If you are hoping to drive your sales and increase your customer loyalty in 2021, make sure to rethink your current payment system. The technology is easy to implement and while there may be an upfront cost, you’ll benefit from this in the future.