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Spend, send, and save seamlessly: Apple鈥檚 digital Wallet will house the accounts, and Apple鈥檚 new Savings dashboard will let users conduct all of their financial transactions in one place. The 4.15% APY is more than 10 times the national average savings rate, according to the release, and it鈥檚 even higher than Goldman Sachs鈥� APY of 3.09%.

Amazon adds new BNPL option to strengthen digital wallet. More Chart of the Day:. 8/30 - TikTok's time takeover. 8/29 - Instagram remains king. 8/28 - Digital commerce鈥檚 pay day. 8/25 - Social video slows. 8/24 - The rise and fall of ecommerce growth.

On today's podcast episode, we discuss what commerce media encompasses, the size of the financial and travel networks, and the companies to pay closest attention to in this space. Listen to the conversation with our Senior Analyst Sara Lebow as she hosts Senior Analyst Arielle Feger and Principal Analyst Sarah Marzano.

The opportunity: Digital wallets commanded C$78.67 billion ($60.43 billion) in retail sales in 2021. They hold 21.8% payment value share of all ecommerce sales in Canada, plus 8% of in-store retail sales. The shift: Growing consumer education and innovative features are increasing adoption. Canada鈥檚 wireless and mobile data costs are among the highest globally, curbing digital wallet adoption.

Amazon adds new BNPL option to strengthen digital wallet. Apple鈥檚 financial services marketing promotes an immersive lifestyle, not just products. US mobile wallet users prefer PayPal, especially for online purchases.

Why: In our recent retail app benchmark, Target tied with The Home Depot because it had the most desirable consumer features, including digital wallet, personalization, and fulfillment options. 鈥淚t鈥檚 really the seamless integration of Circle Rewards and the fact that you can track things like cash back and other discounts in a really simple way through the app.

Firms must plan for regulatory changes across areas like BNPL, open banking, crypto, and credit cards

Mobile apps are a valuable tool for retailers, drawing consumers in with loyalty programs, exclusive offers, and digital wallets. 鈥淢commerce tends to take off during the holidays because of how consumers shop,鈥� said our analyst Sky Canaves. 鈥淒uring the Thanksgiving weekend, people tend to watch TV with their families while they shop from their phones.

Synchrony could diversify its product offerings鈥� it teased its own digital wallet last month. But it鈥檚 also eyeing a big co-brand opportunity: Walmart. Doubles said Synchrony was 鈥渁lways in the market for large portfolio acquisitions鈥� when asked about whether it would vie for the retailer鈥檚 co-brand. Walmart sued its current issuer, Capital One, this month to terminate their partnership.

In addition to digital wallets, retailers should consider these solutions to ensure a quick and convenient checkout process:. As the name suggests, one-click checkout allows customers to hit just one button to complete their purchase; it鈥檚 offered by retailers including Shopify and Amazon and payment providers like Revolut and PayPal.

Despite a slowdown in smartphone sales, innovations in advertising, commerce, AI, and even device form-factors will drive mcommerce and mobile advertising growth in 2024.

Enforce open banking for checking, savings, and credit card accounts, prepaid cards, and digital wallets. Require application programming interfaces (APIs) and a developer interface. Effectively ban screen scraping and credential sharing. Clarify the data that a bank must make available. What鈥檚 the current deadline?

The proliferation of loyalty programs has heightened competition, so retailers will have to dig deeper into their customer data to drive active participation.

First-party data takes center stage in marketing's future: As third-party cookies phase out, brands are leaning into AI and first-party data to create personalized, privacy-compliant advertising solutions.

Key stat: Boomers are the least likely to use proximity mobile payments, with only 9.5 million expected to use digital wallets this year, per our forecast. However, 73% of boomers surveyed by Razorfish consider technology important to manage their money. Why it matters: Boomers鈥� openness to financial technology presents a significant opportunity.

Consumers spend more with digital wallets. Loyalty programs鈥� top friction points include delays, difficulties earning rewards. 4 technologies to help curb cart abandonment. How seamless payments, social commerce, and loyalty apps are driving mcommerce growth.

Credit card marketers can also highlight how their cards can integrate into digital wallets, which 161.6 million US consumers will use this year, per our forecast. Use this chart:. Build out credit card perks. Assess the best way to market credit cards to attract new customers. Consider partnerships with credit card companies. More like this:.

The rollout will help it keep up with Klarna, but well-established competitors in the market could limit its growth

US buy now, pay later (BNPL) user growth is slowing, plummeting from 97.0% in 2021 to just 4.1% in 2028, according to our forecast.

How digital wallets help retailers reduce friction, increase loyalty. What keeps Nike at the top of its game? Overstock CMO on using first-party data, brand ambassadors to reach home shoppers. More Chart of the Day:. 6/8 - Google鈥檚 biggest rivals. 6/7 - Social鈥檚 slow show. 6/6 - App-y shopping. 6/5 - In AI we trust? 6/2 - Commercial break-through.

This could not only impact its market share in the debit card industry and cut into its margins鈥攊t may also hurt Visa鈥檚 brand in the court of public opinion

The agency has launched similar inquiries with other major banks. These could create reputational problems for the P2P platform

A Trump administration could lead to sweeping changes at the agency