In recent weeks, both American Express and Capital One added new deals listings to their mobile apps. American Express added a My Offers section to its iPhone app listing nearby partner merchants with discounts. Offers come in two types – blue, which credit cash back on the client’s card statement, and green, which provide discounts at checkout. Capital One Deals, available on iPhone and Android apps, offer in-store and online discounts credited to the client’s statement.
This is not the first time two companies have released similar app updates in close succession. The mobile financial services space has seen races to be the first bank with an iPad app or the first brokerage with mobile check deposit, for instance.
While this focus on deals is new, it ties in with other trends in the mobile finance. Mobile wallet technology is still in its infancy, but companies across the financial services and technology industries are working to drive more and more spending through mobile devices. AmEx and Cap One’s deals are at best small, incremental steps, but could help their loyal card holders keep their apps in mind when making purchases and become more comfortable using the apps for daily spending.
American Express and Capital One Mobile Deals