Latest news with #AppleWallet
Finextra
3 days ago
- Business
- Finextra
Are Banks Losing the Wallet War?: By Alisa Zejnilovic
The fight for customer retention isn't happening at the branch, it's happening on the phone's screen. And more often than not, it's not your app being tapped. Across Europe, 46% of Gen Z now use third-party finance apps daily: wallets, savings tools, crypto accounts, reward platforms; often in place of their bank's native app. This isn't a niche behavior. It's a shift in financial behavior and power. And it is no longer a two-horse race - the competition isn't another bank, it's Apple Wallet, Revolut, and any app that earns a place in a user's daily routine. The Problem: Banks Are Losing the Primary Interface Traditional banks are watching a critical shift unfold: the decoupling of financial services from their platforms. While core banking functionality remains intact behind the scenes, the front-end relationship is migrating elsewhere - to digital wallets, neobanks, and ecosystem-first apps. Even banks with strong mobile apps are facing attrition in usage frequency. Why? Because customers, especially younger demographics, are using third-party apps that better align with how they live, shop, save, and transact. If your bank's app isn't the first point of contact, it won't be the first choice when new financial needs arise. The Cause: Wallets and Neobanks Have Reframed User Expectations Digital wallets and neobanks are not the same, but they are both redefining the customer interface. Digital wallets (like Apple Pay, Lydia, Stocard, Curve) are becoming hubs for spending, saving, and identity - not just payment pipes. Neobanks (like N26, Revolut) are delivering full-stack experiences with superior UX, instant onboarding, modular products, and lifestyle integration. The more and more customers are migrating to these apps, because, the bottom line, they do two things well: ✅ Remove friction ✅ Add daily value They don't replicate traditional banks, they leapfrog them in interface design and user relevance. The Strategic Consequence: You're No Longer Just a Bank Once digital wallets offer: Payment Loyalty cards Subscription management P2P and split payments Credit and savings tools …they stop being accessories and become the new default interface. The bank becomes the backend. The infrastructure. Invisible. And with the Digital Euro on the horizon, wallets are gaining systemic importance - not just convenience. The European Central Bank (ECB) is actively developing the Digital Euro, a central bank digital currency (CBDC) designed to provide citizens with a secure, universally accepted form of digital cash. Slated to move into the preparation phase by 2025, it will be distributed via digital wallets, not directly through traditional banks. This shift will erode the exclusivity banks have historically had over holding and distributing public money. For consumers, it means the same wallet that holds currency, ID, mobility passes, loyalty cards, and access tokens can also be the home of state-backed digital cash. Why would users navigate five siloed apps when a single wallet becomes their universal financial and identity interface? For banks, this marks a turning point: if you're not the interface, you're infrastructure. And infrastructure gets commoditized. China's case study: a wake-up call for European banking We're already seeing this dynamic play out in China; their financial transformation offers a compelling case study for Europe. Platforms like Alipay have evolved from e-commerce payment tools into full-fledged financial ecosystems - offering savings (Yu'e Bao), insurance (Zhong An), personal credit (Ant Micro Loan), and even consumer credit scoring (Sesame Credit). What makes this shift significant is disintermediation: Alipay reduces reliance on traditional banks by handling transactions, credit, and even settlements internally, cutting out legacy intermediaries like China UnionPay entirely. As Chinese users increasingly choose digital wallets over bank apps, state-owned banks have been forced to innovate or risk irrelevance. And now, with the rollout of the e-CNY, users can access central bank money directly through wallets like Alipay and WeChat Pay, without logging into a traditional banking interface. The message for Europe is clear: if the Digital Euro follows a similar path, the wallet - not the bank - becomes the dominant layer of financial interaction. For banks, this means two choices: compete as a daily interface or be relegated to invisible infrastructure. What Now? Strategy Before Speed Banks have two clear paths: Try to protect their existing app experience (and risk falling behind), or Redesign the customer experience around daily relevance, not just regulatory compliance. That doesn't mean launching a copycat wallet. It means rethinking the user journey from login to loyalty. Here's what winning banks are already doing: Embedding budgeting, rewards, lifestyle nudges, and micro-investment tools into the app, not as features, habit-forming daily touchpoints. Using AI to hyper personalize nudges and product offers in real-time, based on behavior, not just age or income brackets. Offering instant, transparent onboarding with personalization from day one. Partnering with fintechs, telecoms, and retail ecosystems to stay embedded in user lifestyles B2B2X Models: Embedded Finance with Real Impact Banks are increasingly moving beyond traditional B2B to B2B2X - where 'X' is the end customer. Instead of waiting for consumers to walk into a branch, they're embedding banking products directly into partner ecosystems - from car dealerships offering instant financing to real estate platforms streamlining mortgage approvals at the point of search. Example: A bank partners with a car manufacturer to offer embedded leasing and financing within the digital showroom. The consumer never leaves the ecosystem, but your bank powers the transaction. This model allows banks to: Expand distribution without new branches Capture high-intent customers at the moment of need Retain relevance in a landscape shaped by platforms, not pipelines The Solution: Compete on Interface, Not Just Infrastructure Digital wallets aren't just adding convenience, they're training your customers to expect more. To compete, banks must: Shift from compliance-led releases to product-driven roadmaps Deliver modular, composable services without overhauling core systems Treat AI and personalization not as 'features,' but as retention engines Launch smaller, faster MVPs - then iterate with user data (not just stakeholder input) This isn't digital transformation. It's interface strategy. Final Word: Reclaim the Frontline Banks who win the next decade will be those who own the interface, not just the ledger. Your customer will still need a bank. But whether they interact with you, or through someone else, will depend on what you do now. The wallets are open. The question is: whose app do they open first? The full research download here:
Geeky Gadgets
22-05-2025
- Geeky Gadgets
Mastering Apple Wallet: Adding, Using, and Sharing Your Tickets & Passes
Apple Wallet has transformed the way you manage tickets and passes, offering a convenient and secure alternative to physical cards and paper tickets. With features like contactless payment, wireless syncing, and robust authentication, the Wallet app simplifies everyday tasks and enhances your digital experience. The video below from Apple provides a detailed walkthrough on how to add, use, and share tickets and passes in Apple Wallet, helping you make the most of its capabilities. Watch this video on YouTube. Adding Tickets and Passes to Apple Wallet Adding tickets or passes to your Apple Wallet is straightforward and user-friendly. When you receive a ticket or pass through email, an app, or another communication method, look for the 'Add to Apple Wallet' button. Once located, tap the button, and the Wallet app will prompt you to confirm by selecting 'Add.' This process securely stores your ticket or pass in the Wallet app on your iPhone. One of the key advantages of Apple Wallet is its seamless integration with other Apple devices. After adding a ticket or pass to your iPhone, it automatically syncs with your Apple Watch if paired. This feature allows you to access your tickets directly from your wrist, offering added convenience when you're on the go, such as entering events or boarding transportation. Using Tickets and Passes Accessing and using tickets or passes stored in Apple Wallet is designed to be quick and efficient. To open the Wallet app, double-click the side button on your iPhone if you're using Face ID, or press the home button if you're using Touch ID. For security purposes, you may need to authenticate using Face ID or Touch ID before proceeding. Once the Wallet app is open, select the ticket or pass you need. You can then present it to a contactless reader or show it to an attendant for scanning. If you have multiple tickets or passes stored, simply swipe left or right to navigate through them. This functionality is particularly useful for managing multiple passes, such as when attending events, traveling, or organizing group outings. Sharing or Transferring Tickets and Passes Sharing or transferring tickets and passes is another valuable feature of Apple Wallet, provided the ticket issuer supports it. To share a pass, open the Wallet app and select the ticket or pass you wish to share. Tap the 'More' button (represented by three dots) and look for the 'Share' or 'Transfer' option. From there, you can send the ticket or pass to another iPhone user via AirDrop, Messages, or email. This feature is particularly useful for group events, gifting tickets, or coordinating plans with others. However, it's important to note that the ability to share or transfer tickets depends on the ticket issuer's policies. Some tickets may have restrictions that prevent sharing or limit the number of transfers allowed. Always check the terms associated with your ticket to ensure compatibility with this feature. Key Features of Apple Wallet Apple Wallet offers a range of features that enhance its functionality and security. These include: Contactless Payment: Use your iPhone or Apple Watch to make secure payments at compatible terminals, eliminating the need for physical cards. Use your iPhone or Apple Watch to make secure payments at compatible terminals, eliminating the need for physical cards. Authentication: Protect your tickets and passes with Face ID or Touch ID, making sure only you can access them. Protect your tickets and passes with Face ID or Touch ID, making sure only you can access them. Wireless Syncing: Automatically sync tickets and passes between your iPhone and Apple Watch for seamless access across devices. Automatically sync tickets and passes between your iPhone and Apple Watch for seamless access across devices. Pass Management: Organize and quickly access multiple tickets or passes in one centralized location within the Wallet app. Organize and quickly access multiple tickets or passes in one centralized location within the Wallet app. Mobile Ticketing: Replace physical tickets with digital passes, reducing clutter and streamlining your experience. Apple Wallet's features are designed to provide a secure, efficient, and user-friendly way to manage your digital passes. Whether you're attending a concert, boarding a flight, or accessing a membership card, the Wallet app ensures everything you need is readily available and easy to use. By following the steps outlined above, you can take full advantage of Apple Wallet's capabilities. From adding and using tickets to sharing them with others, the app simplifies your daily tasks while offering enhanced security and convenience. Here are additional guides from our expansive article library that you may find useful on Apple Wallet. Source & Image Credit: Apple Support Filed Under: Apple, Apple iPhone, Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Yahoo
21-05-2025
- Automotive
- Yahoo
Synchrony and Discount Tire Extend Long-Standing Partnership, Providing Drivers Nationwide with Financing Flexibility and Convenience
STAMFORD, Conn. and SCOTTSDALE, Ariz., May 21, 2025 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Discount Tire, a leading independent retailer of tires and wheels, have extended their more than 25-year partnership. This extension ensures Discount Tire customers continue to have access to affordable and flexible financing options for their tire purchases and automotive needs through Synchrony's Car Care network. Customers can use their Discount Tire card at more than 1,200 retail stores in 39 states including Discount Tire, America's Tire, Dunn Tire, Suburban Tire Auto Repair Centers and Ellisville Tire and Service, as well as The card is also accepted at more than one million additional locations nationwide within the Synchrony Car Care™ network, making auto-related purchases easier than ever. According to J.D. Power, tires last an average of six years or 50,000 miles and replacing tires can cost anywhere from hundreds to more than a thousand dollars, depending on type and size. The Discount Tire credit card, backed by the Synchrony Car Care network, gives customers access to exclusive financing offers to pay for tires and service, including deferred interest promotions based on their purchase amounts and special promotions. Additional cardholder perks include no annual fee and zero-dollar liability for fraud transactions. Customers can quickly see if they prequalify for the Discount Tire credit card with no impact to their credit score online. "As the age of vehicles on the road increase and maintenance costs rise, our financing solutions help drivers stay safe while managing their budgets effectively," said Curtis Howse, EVP & CEO of Synchrony Home & Auto. "Extending our partnership with Discount Tire reinforces our commitment to making tire and wheel purchases and other necessary auto purchases more accessible and affordable for millions of drivers." As a cornerstone of the Synchrony Car Care network, Discount Tire provides millions of cardholders with trusted service and financing options tailored to their needs. Cardholders also have access to a number of innovative digital payment solutions, streamlining the application and account management process. Discount Tire is currently Synchrony's only auto retailer whose credit card can be added to Apple Wallet® for seamless in-store purchases via Apple Pay®. "Our continued partnership with Synchrony is a testament to our shared commitment to making tire and wheel purchases easy, inviting, and safe for customers," said Christian Roe, Chief Revenue Officer at Discount Tire. "By expanding access to financing through Synchrony's Car Care network, we're giving customers greater flexibility to manage their vehicle expenses." About Discount TireDiscount Tire is a leading independent retailer of tires, wheels, and windshield wipers. Founded in 1960 by Bruce T. Halle, the company serves customers at more than 1,200 stores in 39 states. The company does business as Discount Tire in most of the U.S. and as America's Tire in parts of California and Pennsylvania. Treadwell, Discount Tire's proprietary online tire recommendation tool, uses decades of data and individual driving habits to recommend the right tires for each driver's unique needs. For more information, visit About SynchronySynchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For® by Fortune magazine and Great Place to Work®. For more information, visit Media Contacts: Lauren Mary-Ward FreydbergDiscount Tirepressemails@ View original content to download multimedia: SOURCE Synchrony
Business Journals
20-05-2025
- Business
- Business Journals
Verizon Business report reveals tech investments propel SMBs towards greater efficiency and growth
A recent study by Verizon Business into the actions and attitudes of decision-makers at small and midsize businesses nationwide shows that SMBs are continuing to invest in technology to improve efficiency and better connect with customers. Decision-makers view new technology adoption as key for achieving their goals, with survey respondents continually adding or upgrading their technologies. In fact, two of three businesses enhanced internet bandwidth and speeds. 'Small businesses need to stay nimble in today's fast-changing market and new tools allow SMBs to pivot quickly when customer needs shift or new opportunities emerge,' said Jorge Zapata, senior director of retail and SMB business sales at Verizon Business in South Florida. The survey revealed that 70% of decision-makers said technology upgrades have led to cost savings, while 62% cited incremental revenue as a benefit. 'Using new tech is vital for small businesses to compete today because it can level the playing field with larger competitors and boost efficiency and value,' said Zapata. 'For businesses scaling fast or leveraging seasonal demand, embracing digital tools enables them to automate routine tasks, gain deeper customer insights through data analytics and create seamless experiences across all touchpoints.' Efficiency and flexibility allow SMBs the ability to customize their tech Businesses that added or upgraded point-of-service systems in the past year noted an increase in the speed and efficiency of payments, managing inventory and improving payment security. Most decision-makers (58%) reported they will evaluate or upgrade their payment processing systems within the next six months. There has also been an increase in the number of retail, restaurant and food-and-beverage industries using 5G networks to support contactless payments. The most-used form of digital payment is PayPal, accepted by three in four SMBs, while over half accept payment from Google Wallet and Apple Wallet. Due to the varying priorities in technology needs, SMBs do not have identical tech stacks, valuing flexibility in services like wireless business plans. For example, MyBizPlan from Verizon Business allows SMB customers to create and customize their wireless business plans based on their needs. In addition to unlimited calling, data and texting, customers can choose from business add-ons like mobile security, 50-gigabyte hot spots and unlimited individual cloud storage. 'Unlike one-size-fits-all solutions, My Biz Plan allows businesses to customize connectivity services for their specific requirements, eliminating the waste of paying for unused features. The plan's predictable monthly costs improve budgeting accuracy, while its scalability means businesses can easily adjust services as they grow,' Zapata said. 'We're especially excited about the competitive international connectivity My Biz Plan brings to small businesses.' Adopting AI to improve customer engagement, increase productivity and reduce cyberattacks Four in 10 small and midsize businesses now use artificial intelligence (AI), according to the survey, often to increase engagement with customers. AI can provide around-the-clock access for routine service requests while freeing up team members to focus on more complex matters. For example, Business Assistant from Verizon Business enables SMBs to engage with customers through text messages. The AI handles routine inquiries and can seamlessly transfer the conversation to a human representative when needed. A comparison of Verizon Business' latest survey results with those from its 2024 survey showed that fewer decision-makers are concerned about integrating AI into their business or that leveraging it opens them up to cybersecurity risks. While 55% believe leveraging Al tools opens their businesses to more cybersecurity risks, 25% are using it to prevent cybersecurity attacks. More than half (56%) believe that Al can increase productivity by helping their businesses offset impacts from reducing or freezing their headcount. Providing tech solutions based on local needs While improving efficiency, connecting with customers and strengthening cybersecurity are common priorities for SMBs nationwide, businesses may have different goals locally. Other reasons for technology upgrades include improving customer acquisition, driving employee retention and meeting demands created by new working models like hybrid and remote environments. 'Throughout South Florida, we're seeing a few key trends,' Zapata said. 'First, the major tourism industry requires enhanced connectivity, which increases the need for business continuity solutions due to seasonal weather challenges. 'Additionally, there's growth in hybrid retail models that blend physical and digital experiences for SMBs in major shopping areas. 'Verizon addresses these challenges by providing SMBs with storm-ready business continuity solutions. This includes backup internet options and specialized support for seasonal hospitality and tourism businesses that are adapting to digital customer expectations. In addition, flexible connectivity packages like My Biz Plan support seamless omnichannel retail experiences,' he said. 'We're also significantly expanding our 5G infrastructure throughout Miami-Dade, Broward and Palm Beach counties, enabling Florida SMBs to leverage cutting-edge technologies that enhance customer experiences and operational efficiency.' Whatever the local trends may be, SMBs remain collectively optimistic. As the recent Verizon Business survey shows, most decision-makers have positive goals – and technology will be key to bringing them to fruition. Empower your small business with Verizon Business. Discover solutions that enhance connectivity, security, and efficiency. Explore how our innovative tools can support your growth and streamline operations. Take the next step towards a more connected and secure future for your business. Verizon Business provides solutions to help small businesses stay connected and secure. With a focus on reliable network services, cybersecurity, and innovative tools, Verizon Business supports growth and efficiency for companies of all sizes.
Daily Record
20-05-2025
- Automotive
- Daily Record
Digital UK driving licences are coming but motorists point out one major flaw
The Government has revealed that drivers will soon be able to store their driving licence on their phone as part of a wider rollout of a digital documents app - but it seems not everyone is on board with the change Brits have voiced their concerns over the impending introduction of digital driving licences, set to be part of the government's Wallet and App this summer. Danny Smith, who operates Danny's Driving School, took to TikTok to clarify what it will entail for drivers, but his revelation didn't go down well with some. "So basically you're going to have this app with all your official documents on there," he began in a video. "So you're going to be able to store a digital copy of your driving licence just like you do on your Apple Wallet with your cards." Danny continued: "It can be used in all the same ways and there's extra security measures that are going to be in place. It will also include things like DBS checks - it's inevitable that all this was going to happen. It seems like a great idea to me, but let me know what you think about it." And it's safe to say not everyone is as enthusiastic as the driving instructor. Many TikTok user highlighted the same issue – what if you don't own a smartphone, or your device runs out of battery? "Sick of all these apps on phones, what if people don't have smartphones?" one person pondered. "I'd rather have a physical card. Feel sorry for the elderly who don't use smartphones." "What if your phone dies?" queried several others. Another person agreed: "I'd rather have physical ID. If your phone dies you have nothing and nothing is safe forever online." Others expressed other fears about the potential risks of the system, with one saying: "I won't do it, cyber attacks and hackers etc will definitely get into it." Another commented: "I'd rather not. I hate all this stuff makes me feel like I'm on Big Brother." Whilst a further critic argued: "I will never sign up for this, I don't even trust banking apps on my phone... Oh yeah you lose your phone or it gets stolen all your ID is there for the taking." Some welcomed the move as a positive development, meanwhile. "I think it's a positive, more convenient for most people. People love to moan," one said. A second supporter of the plans added: "This is absolutely fine by me. I cannot understand the conspiracy that it's a government ploy to monitor us. They've already got all the information anyway." A third TikTok user in favour said: "I would like that because currently my driving licence is my only easy form of ID." Whilst a fourth joked: "Fab for us who are pushing 30 and still get IDed for energy drinks!" The Government's website explains the concept in more detail: "Brits will be given the option to use a digital version of their driver's licence from their phone to easily prove their age when buying age restricted items online and in person – as well as proving their right to drive. "A mobile driver's licence will be one of the first digital documents in a Wallet launched later this year and will ultimately allow people to prove their age from their phone in shops or online." Transport Secretary, Heidi Alexander added of the change: "This is a game changer for the millions of people who use their driving licence as ID. The innovation puts power back in the hands of the people, making everyday interactions faster, easier, and more secure. We are delivering on the Plan for Change by making public services work for everyone."
