October 2015 Trends & Highlights: Digital Wallets, Rewards and Paying by the Mile

by on Nov 11, 2015


  • Firms Round out Their Digital Wallet Offerings – With the debut of Android and Samsung Pay, many firms updated their digital payment content. Bank of America and Wells Fargo added private site Digital Wallet and Virtual Card overviews, while Wells Fargo also added public Mobile Wallet Basics, Android Pay and Apple Pay pages. Chase added links to Apple Pay and Visa Checkout pages, while Citi updated its Apple Pay microsite and created two for Android Pay and Samsung Pay. Scottrade introduced Apple Pay to its clients with debit cards, while Capital One added NFC payment capabilities within its own Android Wallet – the first bank to offer the contactless service within its app.
  • Firms Focus on Security – October is National Cyber Security Awareness Month, which led PNC Bank to add a new section on Security Assurance and a social media campaign with tips throughout the month. USAA also supported the month with #CyberAware on Twitter. Scottrade sent multiple client notifications addressing a 2013-2014 security breach, and Merrill Lynch and Merrill Edge finalized multiple security changes in a new, centralized Security Center.
  • Rewards Platforms Get a New Look – Both USAA and Chase made changes to their rewards platforms. USAA revamped its Rewards Center, which now features a point redemption section and expandable menus. Chase added an iOS and Android mobile app for Freedom card holders to redeem and pay for purchases with rewards at participating merchants.


Fidelity Introduces New Planning & Guidance Center

Fidelity launched a Planning & Guidance Center for clients to create and monitor retirement goals. The firm incorporates tools like Portfolio Review, Retirement Income Planner and Retirement Quick Check, among others, into a centralized location and new design.

Fidelity Private Site Planning & Guidance Center (Truncated)

PNC Adds Virtual Wallet Microsite

The firm added a Virtual Wallet microsite with videos and information on the service in six different sections. Videos about the accounts, details on top features, information on fees and services, customer reviews and an application are all available within different tabs on the microsite.

PNC Virtual Wallet Microsite

Esurance Introduces Pay Per Mile

The firm introduced its new mileage-based insurance, which allows users to pay for the miles they accrue. The new service is designed for customers who primarily walk or ride bikes but are still in need of driving under 10,000 miles annually. The firm is testing the new model – the first that P&C Insurance Monitor has seen – in the state of Oregon.

Esurance Public Pay Per Mile Page