US retailers continue to focus on launching own mobile wallets to gain competitive advantage; Kohl launches its own mobile payment app

Print

Email

Retailers in the US are focusing on launching their own mobile payment app, while supporting other mainstream app such as Apple Pay and its loyalty point earning system. With this new in-house payment application, the brands will gain access to customer centric data and promote discounts and sales information to target consumers in a more effective manner. In the current scenario, mobile wallet is seen as core to retail strategy to drive revenues, reduce cost and increase loyalty.

Retailer Kohl has recently launched its mobile payment application Kohl Pay which functions through own range of Kohl's Charge cards instead of any debit or credit card linkage. It is an effective alternative to Apple Pay or Samsung Pay as well. The application is available on Android and iOS platform and facilitates payments through QR code scanning. Other than payments, it also manages savings for customers, along with discount and promotion tracking, exchanges, frequent purchases and stores gift cards as well. The application has already been downloaded 14 million times since its launch.

Kohl Pay has been integrated with Kohl’s charge card and Yes2You rewards program which is expected to give the brand a competitive edge over other players. Another interesting facility of this system is that customers can redeem their reward point at the time of checkout. With this approach, it plans to increase brand loyalty and expand its business reach. Kohl has a customer base of 25 million active card holders in United States and 60% of its in-store sales are channelized through these store cards. Hence it can be predicted that a considerable amount of customers will be interested in this new payment facility.

To know more and gain deeper understanding of mobile payment industry in the United States, click here.