Payment apps grow in popularity

AUSTIN – A Bank of America survey shows a massive shift inside the manner we pay for products and services..

“Younger generations likely will now not utilize coins, checks or card within the way we use them these days,” said Bank of America Region Executive of Consumer Banking David Bader.

For millennials, digital currency is the maximum reachable way to cover charges and prices.

“I discovered it to be very convenient just to switch money among buddies and circle of relatives and additionally a few commercial enterprise clients,” stated Austin resident Albert Garcia.

 

To guard your self from hackers, professionals propose the usage of specific logins and passwords for each app and to by no means make a fee in public.

MORE the entire Bank of America Report

“Because if you’re sitting in a espresso store on publicly available wi-fi that doesn’t require a password the facts which you’re transmitting to and fro is open to whoever else is sitting around you and decides to attempt to sniff that facts,” stated cybersecurity legal professional Tim Newman.

 

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Services like PayPal and Venmo use enormously encrypted records security measures however there’s continually a few hazard in relation to the use of personal bank facts.

“With Venmo in particular it’s made public to other Venmo customers that that transaction was made…I don’t feel adore it’s essential for others to know,” stated Garcia.

More than 30 banks, which includes Bank of America, are jumping into the peer-to-peer fee enterprise with their own service, Zelle, which is billed as greater comfortable.

What strikes to your mind while hearing the word ‘app’? Something that makes your life simple or just an add-on to your phone? Small business owners mostly don’t give much importance to the task of building mobile apps. However, while considering the broader perspective; it actually serves as an integrated marketing solution. If executed properly, it can fetch great results for small businesses in terms of customer engagement and revenue generation.

Adhering this fact, it is the time for small business entrepreneurs to reconsider the importance of mobile apps in gaining a competitive edge. The ‘Think twice’ process will aim at redefining the way we think of customer reach, customer experience, customer loyalty and customer appreciation.

Take another look at Customer Reach
A strong mobile presence will help you to fetch higher ranks on popular directory sites, thereby helping you to get a good local business presence. Reviews directly impact the local search rankings and thus, acquiring them is of prime importance. This, in turn, will increase exposure and help in acquiring new customers as well.

improving the customer experience. Conventionally, companies mostly emphasised on the significant moments of interaction at the time of purchase. However, the customer journey is rapidly undergoing a major shift in entirety. It offers a complete solution to multiple facets of improvement including improved customer satisfaction, increased revenue, reduced deviations and higher employee satisfaction.

Take another look at Customer Loyalty
An enhanced customer experience greatly helps in building loyalty, thereby increasing the user retention rate. The better it is, the more users are likely to return to avail your service. Loyal customers account a major stake in the total number of customers of a company. Ranging from startups to global enterprises, every business gives prime importance to loyal customers. With the help of apps, businesses can start a loyalty program by providing attractive offers and discounts to the existing cust