iMobile3's PassMarket Puts Merchants Where They Want to Be: In Consumers' Digital Wallets

Technology companies across the United States are vying for a place in consumers' digital back pockets. Mobile wallets are gaining in popularity, and everyone wants a piece of the action. But what consumers want is convenience and savings. Can they finally get rid of those plastic discount and gift cards and half-stamped loyalty passes? Can they use their smartphones to make gift-card purchases and to receive and redeem coupons from shops and restaurants?

With iMobile3's PassMarket, consumers can do just that-and retailers and restaurateurs of any size can effortlessly engage customers while capturing relevant data. PassMarket allows merchants to quickly create passes (micro apps that can be downloaded to a mobile wallet), connect the passes to consumer mobile devices, capture the passes at the point of sale, contact consumers with offers and messages, and chart the success of their pass campaigns. PassMarket is available as a cloud-based solution that merchants can begin using in as little as 30 minutes.

"Mobile wallets are the fastest way for merchants to put their business on the smartphones of millions of consumers worldwide in a very short amount of time," said Bob Leonard, iMobile3 CEO and managing partner. "PassMarket uses the wallet already on the consumer's phone-whether it's Apple Passbook on the iPhone or Google Wallet or PassMarket Wallet on an Android phone. Rather than requiring a merchant spend the time and cost associated with developing a dedicated app, all that merchants have to do is create passes for use with these wallets."

Despite the current fragmentation in the mobile wallet industry segment, which Leonard believes will soon coalesce around the major providers (all supported by iMobile3), both Gartner and Forrester Research are predicting strong growth. Gartner forecasts a market worth of $721 billion with 450 million users by 2017.

Forrester Research and ABI Research both foresee a major shift in mobile customer loyalty programs. In its Nov. 18 quarterly Market Data report, ABI says smartphones will completely revolutionize the existing analytics, CRM, digital signage, loyalty, and POS markets. Similarly, in "The State of Loyalty Programs 2013," Forrester reports that only 16% of consumers redeem their loyalty rewards and describes loyalty marketing as being on the cusp of an evolution. In the report, based on surveys of 50 member companies of Loyalty360, Analyst Emily Collins says programs are shifting from a transaction-based approach to one that emphasizes engagement and emotion.

"iMobile3's PassMarket has enabled us to communicate with our customers through location-based (geo-fencing) and scheduled messages while eliminating paper punch cards and accelerating adoption of our loyalty programs," said Brad Chasteen, President, Welcome To Moe's, Inc, the largest franchisee of the popular Moe's Southwest Grill.

About iMobile3

iMobile3 is mobilizing the most recognized brands on the planet and transforming the retail industry with its mobile products and services. With hundreds of millions of dollars in commerce processing through mobile applications by leading retailers, travel, financial services, home sales, and delivery clients, iMobile3 has become a global leader in the development of enterprise mobile applications and payment solutions. iMobile3 has also published PassMarket - the industry's first mobile wallet enablement program designed to place any business on the planet inside the leading mobile wallets including Apple Passbook and Google Wallet. Visit www.imobile3.com and www.passmarket.com to learn more.

SOURCE: BUSINESS WIRE