News from the Wire

Cardfree research shows mobile wallet apps double visit frequency

Wednesday, March 15, 2017 — 19:30:17 (EDT)

San Francisco, March 15, 2017 -- CARDFREE, the leading mobile wallet provider to large merchants, announced today that research across its platform shows that mobile consumers increase their visit frequency, ultimately doubling visits before stabilizing out to the new norm. In examining visit patterns across users, CARDFREE research found that time between visits would decrease with each successive app use until about the 6th visit where users would normalize. On average, consumers who started out at a frequency of twice a month would increase visits to weekly and continue to maintain the new frequency level.

Since launching in 2012, CARDFREE has become the leading mobile wallet platform to QSRs, reaching over 22,000 merchant locations with access to more than 100 million consumers each week. The company has also expanded into casual dining as well as other high volume merchant segments and has seen more than 50 million transactions across its platform.

“Historically, we’ve seen that mobile consumers have a higher lifetime value than other consumers so the results of our platform research aren’t a surprise,” commented Jon Squire, CEO and founder of CARDFREE. “What is a surprise is the level of increased frequency, which is very significant. In addition to finding that mobile is a driver of frequency, we’ve also found that adding a loyalty program tends to increase both frequency and spend. Merchants that use our full platform services including order-ahead, payments, offers and loyalty tend to see the most shift in behavior.”

CARDFREE is now offering its mobile SDK to agencies, partners and merchants that are interested in using CARDFREE platform services while driving their own front-end mobile development. Unlike mobile wallet providers that simply provide a “container” and no backend services, CARDFREE has integrated services that can be used together or a la carte.

About CARDFREE

From the team that deployed the three largest mobile wallet initiatives in the U.S., CARDFREE offers merchants a one-stop solution to mobilize and enhance the customer experience for maximum ROI. Our award-winning platform provides end-to end capabilities to engage customers via merchant-branded interfaces such as mGifts, messaging, offers, loyalty, payments, order ahead and social media integration.

CARDFREE is headquartered in San Francisco and has been recognized as a "Fierce 15" company by Fierce Wireless, as having the Best Mobile Merchant Platform by Frost & Sullivan and as Best Mobile Start-up by the MEA Awards. For more information please visit www.cardfree.com or contact info@cardfree.com .

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Source: Company press release.