Apple is about to make its mobile payment system even more appealing to merchants and customers with a likely introduction of a rewards program for Apple Pay at WWDC next month, The New York Times said Thursday.
“Apple is preparing to announce details about enhancements to Apple Pay at its software conference next month,” reads the article. “Those include a rewards program for the mobile wallet service, said two people briefed on the product.”
The lack of rewards program is one of the major remaining roadblocks to broader adoption of Apple’s mobile payments service. Without it, merchants accepting Apple Pay must implement additional solutions to support their own loyalty and rewards programs.
According to people familiar with Apple’s plans, Apple Pay’s rumored rewards program will offer various “perks” to consumers who make purchases with the service.
Google, too, is said to announce new features for its own mobile payment initiative at its annual developer conference, which kicks off today.
The Internet giant’s service called Android Pay should let merchants accept credit card payments from inside their mobile apps. Furthermore, Android Pay will support retailers’ loyalty programs.
“Consumers who use Android Pay for a purchase will also automatically add points to loyalty programs run by participating retailers,” said sources.
Google Wallet, the company’s existing mobile commerce app, should be relaunched as a peer-to-peer payments app for sending money between users directly from their debit accounts.
The revamped app will be available for Android and iOS devices.
Mobile payments are set to grow to a Forrester Research estimated $142 billion by 2019 in the United States, nearly tripling from $52 billion in 2014.
Source: The New York Times