The promotion was called “Lose Your Wallet” on Apple’s website. It included a percentage off the purchase or a free item with a purchase. Moreover, the promotion included in-app offers like $5 off a Caviar order and special offers at a Square Inc. pop-up store. Square owns Caviar.
According to a Square spokesperson, Square would help consumers ensure Apple Pay was setup on their iPhones and they knew the local offers.
Though the overall percentage of electronic payments being made with Apple Pay, or its competitors Samsung Pay and Android Pay isn’t high, there is strong competition among them.
People using Samsung Pay were given the opportunity to search, save, and redeem electronic coupons within its app in 2016. This year, Google, the Alphabet Inc. unit behind Android Pay, offered the ability to transmit loyalty cards and offers to merchants at the point-of-sale terminal.
All 3 must compete against retailer-backed mobile-payments services such as Walmart Pay and Kohl’s Pay. Each of them provides their customers with unique offers and easy payments.
According to Jordan McKee, principal analyst for payments at 451 Research in Boston, Apple Pay’s promotion can also be considered as a way to broaden Apple’s image as a merchant partner. 451 Research is a research and advisory company focused on innovation and disruption in enterprise technology. McKee further notes that in order to grow, it’s important to closely collaborate with merchants in spheres like loyalty and rewards. Such collaboration will be critical to success.
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