Loyalty and rewards

Mobile wallet adoption in the U.S. is slow, and the payments industry has only itself to blame.

Ask any consumer what their most-used mobile wallet is, and you'll get one answer. Ask an issuer or a merchant, and the answer could be vastly different. Here's why.

Some virtual currencies are getting narrower focuses on individual categories such as dentistry, and Burger King will soon find out if the concept is transferrable to Russian fast food.

Mobile wallets and digital payments apps are erasing the distinction between credit and debit, but many issuers still cling to old practices that treat those audiences differently. SunTrust is working to change that.

Mobile wallets and digital payments apps are erasing the distinction between credit and debit, but many issuers still cling to old practices that treat those audiences differently. SunTrust is working to change that.

As marketing becomes more expensive, issuers are under pressure to find new ways to lure merchants, according to Eric Marks and Sean Clark from West Monroe Partners.

Credit card issuers have been trying to outdo each other to offer the best rewards program. And it shows, as customer satisfaction rates with many (but not all) of their banks have never been higher in a yearly J.D. Power study. But they may not last forever.

Credit card issuers are still targeting high-spending customers, who tend to be resilient to economic swings, but competition at the top is brutal and marketing costs are high. At the other end of the credit spectrum, it’s a different story.

Bank of America is readying a premium credit card that boosts the rewards customers may earn based on funds kept in savings and investment accounts at the bank.

Enticements such as rewards, loyalty points and coupons seldom face pushback as a marketing concept, but there's been recent concern that these programs are devouring potential revenue from consumers who would be willing to pay full price.