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Alipay, WeChat Show More to Mobile Wallets Than Payment Solutions

Alipay and WeChat in China show marketers the future of mobile wallets.

IANS

Updated:April 18, 2017, 3:10 PM IST
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Alipay, WeChat Show More to Mobile Wallets Than Payment Solutions
Alipay logo. Representative Image. (Image: REUTERS/Ali Song)
Mobile e-wallets are slowly being morphed into rich customer engagement platforms, thus offering reach and the opportunity for marketers to borrow mobile moments to better serve their customers, a Forrester research said on Tuesday.

Alipay and WeChat in China show marketers the future of mobile wallets.

While mainstream Western mobile wallets primarily focus on payments, pioneer mobile wallets in China have taken aggressive steps and become powerful customer engagement tools with innovative features such as WeChat's social gifting and Alipay's augmented reality (AR) coupons and red packets.

"Emerging mobile wallets will develop features like Alipay and WeChat. We expect mobile wallet innovations to happen more quickly in emerging markets with less legacy and competition. Paytm in India is a good example," senior analyst Xiaofeng Wang said in a blog post.

The successful marketing use cases developed on Alipay and WeChat Wallet will inspire third-party players like Apple and PayPal to morph their mobile wallets into more powerful customer engagement platforms, Wang added.

The marketers need to smartly leverage the mobile ecosystem to borrow mobile moments from the popular apps that their customers already use every day, the analyst suggested.

Also read: New Wearable Sweat Sensor to Detect Diseases
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Sarthak Dogra
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