CU Wallet, a Credit Union Service Organization (CUSO) providing the industry’s first credit union driven mobile payments application, and Relevant Solutions, the leading provider of mobile in-store shopping content for financial institutions, have entered a strategic alliance integrating merchant offers and promotions with CU Wallet’s mobile wallet.
This integration gives CU Wallet member credit unions the ability to deliver promotions and offers from more than 750 national merchants, as well as local retailers directly to members.
“We understand that consumers don’t enter retail locations thinking about payment, but rather looking for savings and the best deal,” said Paul Fiore, CEO and founder of CU Wallet. “The abundance of coupon apps, individual retailer branded apps and price comparison tools available can be overwhelming. By partnering with Relevant Solutions, our credit union branded wallet now offers all of these savings and shopping tools in one convenient location. Members using the app can search for the best deals, receive tailored promotions from national and local merchants, and then with a few simple taps, pay for purchases - using one app throughout the entire shopping experience.”
According to the recent DigitasLBi Connected Commerce Study, the number of consumers that use their smartphone in-store has risen from 72 percent a year ago, to 85 percent as of May 2015. The same study reported that 71 percent of consumers would like to receive personalized money-off vouchers or special offers on their smartphone.
“Mobile wallets that simply position themselves as a mobile payment solution will struggle to gain user adoption and usage,” said James Peil, CEO of Relevant Solutions. “By integrating relevant, location-based promotions and offers, CU Wallet has further positioned credit unions for success in the mobile payments market. Providing content that engages members before, during and after their in-store shopping experience helps credit unions win the battle for app mindshare at the point-of-sale.”