Finance apps: m-commerce at its best

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What is the one item people never leave the house without? Our mobile phones.

A study by RetailMeNot estimates that 30% of all online Christmas sales will occur on mobile this year. This is why m-commerce should not be neglected. Financial apps that offer loyalty programs, payment schemes and other functionalities have become increasingly popular with retailers. However, it is hard to know which third party technologies are better suited to your brand.

With Qubit, choosing your third party technologies easy. Qubit’s A/B testing allows you to see which technologies are contributing to an increase in conversions. Here is an insight on what apps to consider and how Qubit can be used to validate their value them.

Allow people to sign in as a guest

Consumers are easily distracted and frustrated by slow-paced, inefficient payment pages. Having a clear and quick payment option on your mobile site will distinguish you from other retailers.

Do not be afraid of the ‘guest’ customer. Whatever the reason: whether in a rush or just lazy , not all of us want to sign up with an account.These visitors are usually less engaged than other customers and need a little nudge in the right direction. No fear, Qubit has a solution to your problem. Qubit can fire a layer targeted to a specific user segment (for example all visitors that have visited the site twice without converting) on the checkout page. The layer’s purpose is to draw the visitors into purchasing with a special promotion. Our Burton case study elaborates on conversion uplifts for cart abandonments.

The barcode is the way to go

Financial start-ups are all the rage as retailers explore ways to have a simple payment process. Efficiency is the way forward with no need for a physical transaction when a consumer purchases in store. What is the best platform for this? The mobile phone, the key to connecting offline with online transactions.


Finance apps such as Yoyo, Zapp and PowaTag have tapped into this need for the hassle-free payment we all want, from the retailer’s and customer’s perspective.

How does it work? Customers register their bank details securely onto the app and each transaction have a unique barcode that is then scanned at the retailers till. Job done.

Now to add the personalized touch: retailers can send targeted offers based on the geolocation and the recent purchase activity. These finance apps are marketing tools that can enhance the CXM by rewarding people who spend. Customer segmentation is heavily based on transactional behavior, an area less explored in m-commerce. Personalization can be based on purchase history by targeting customers with promotions. Qubit’s Deliver allows you to easily fire layers that suit specific user segments.

Loyalty programs

If you want to have returning, loyal customers then you need to lure them in with promotions and gifts. Supermarkets such as Sainsbury’s offer loyalty cards to their customers, but what makes a good reward mobile app? Customers need to feel that they are valued and they want an app that is convenient. With so much choice it is hard to know which third party technology to partner with. Instead of relying on your ‘instinct’, why not A/B test one app against the other to see whether it has an effect on conversions? Monsoon now passes all their third party technologies through us! Qubit relies on data-driven proof, as should you.

While most loyalty programs reward customers on purchases, here is a quirky loyalty app that adds a little more fun to the mix.


Juengo offers points to retailers’ customers for various actions other than purchasing. Attending the retailer’s exhibitions, charity events or even visiting their stores all qualify for receiving points . This encourages customer engagement and makes for a more gamefied approach to loyalty schemes. A recent study by Displaydata stated that 47% of US consumers and 48% of UK consumers think that rewards online are different to those in stores. You want to build customers’ trust by assuring them that they are getting the best deals available for their commitment to your brand. Make sure your deals are aligned when shoppers visits the stores with their app.

Financial apps on mobiles are a booming industry for start-ups. With Christmas approaching, consumers are ever more eager to grab the best deal and the less hassle, the better. Gone are days when you lose your loyalty card or forgot your purse and can’t purchase online or in stores. For select retailers, all you need is your phone! Finance apps are effective as they manage to bridge that gap between online and offline, appealing to the digital-centric public. Qubit’s platform helps you select which contribute to an uplift in conversions and whether they are ROI positive.

Payment and loyalty schemes are the most widely available financial apps but what other functions can these apps offer? The hottest addition to Snapchat is “Snapcash” by Square. Friends can send over money through the chat feature when putting the dollar sign with the desired amount. Snapchat has enable finance to become a social affair. I wonder how ABBA’s song would sound like today?  “Money, money, money is so funny in a digital world”.

To find out more about 3rd party testing, why not check out our ebook: Making your Technology investments hit the bottom line?



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