It seems like every brand has its own mobile wallet. Practically every store that you shop at offers a mobile wallet that lets you use your smartphone to pay for purchases. It isn’t just retail stores that have gotten into this recent technology, though. Churches, charities and other nonprofits also have their own mobile wallets.
At some point, you have to wonder how much is too much. Do people want to use a different mobile wallet for every church and charity they encounter? (No.)
Maybe it’s time to adopt a universal giving app that makes it easier for all people to donate.
Growth in the Mobile Wallet Industry
A few years ago, companies looked desperate to make brand-specific mobile wallets. Companies like mobile wallets because they offer more security, loyalty integration, and faster checkouts than other payment options. Despite the benefits, there weren’t many people using the apps.
Things have changed a lot since then. According to research published by Business Insider, about 45 percent of Millennials have used mobile payments. People over 35 don’t use mobile wallets as much, but that will change as the trend becomes more popular. Business Insider expects the mobile wallets industry to grow by 80 percent each year between 2016 and 2020.
Some People Will Resist Branded Mobile Wallets
No matter how popular certain mobile wallets become, some people will avoid them because they don’t want to install dozens of apps on their mobile devices. Smartphones can only hold finite amounts of information. Most people would rather add a song to their smartphone than another mobile wallet.
Having dozens of mobile wallets can also cause confusion. It’s hard enough to find the right loyalty card on your keyring. Browsing through a list of mobile wallets to find the right option just sounds too difficult for most people.
A Universal Giving App Offers a Better Option
Using a mobile giving app doesn’t mean that you have to inconvenience your congregants. Instead of using a unique app for your church or nonprofit, you can rely on a universal giving app that lets people donate to hundreds of institutions.
The good thing about a universal wallet like Givelify is that you can still use it to improve your brand. Custom branding lets you add a logo or cover photo that helps members of your community know that they’re donating to the right church. Customization also lets you track donations, set goals and integrate with the financial management software that your institution already uses.
Mobile wallets will become more popular, but people will resist installing more than a few on their smartphones. By choosing a universal donation app now, you can get ahead of the trend and earn more donations from early adopters.