What’s In Your (Virtual) Wallet?
by Joshua Tretakoff | VP, Account Management
Here’s a common refrain we provide when discussing loyalty programs with clients and prospects: the average North American wallet has 6-8 slots for cards. One is taken up by a driver’s license; one is occupied by your ATM card. 2 others are typically taken up by major credit cards. That leaves 2-4 slots for everything else. So, in designing a loyalty program, and making a physical card a requirement, why do you think that your card will make the cut? Let’s assume a grocery “loyalty” card takes up one. How about a Costco or Sam’s Club membership? That leaves room for almost…none. Is it any wonder that many people use an alternative identifier instead of the physical card?
Here’s another idea: using the hot new iPhone, one smart Dutchman has scanned in his lesser-used cards as images, allowing the barcode on each to be clearly read by scanners. Thus, he’s created a wallet of infinite size. Sure, he gets a few strange looks when he presents the “card” to be scanned, but hey, saves on wallet wear and tear, right?
The next step is clearly to have a company embrace this “trend” and start offering iPhone and Blackberry versions of their cards. Best Buy and more gadget-focused retailers and service providers, are you listening? 
