Consumers Autowallet being a new start-up needs to obtain new customers. For any start-up obtaining new customers is the hardest thing to do. Moreover, the competitors of Autowallet are well-established brands such as Apple pay, Google Wallet and Android pay. Apple and Google have maintained their reputation from years ago, asking customers to shift from Apple pay or Google wallet to Autowallet is very tough. The users of NFC payments trust apple and Google for their long established brand reputation. Trusting a new competitor on ground with bank accounts and the financial transaction would be hard for customers. Autowallet can use points system used by many credit card companies to obtain new customers. Autowallet can give an incentive of collecting points with the number of transactions and those points could be redeemed to purchase any service that Autowallet vendors provide. Thus, people would be using Autowallet in order to collect points. It can be promoted as none of its competition is using point collection system to use their NFC’s. Autowallet is a Canadian based company and is looking to launch its services in Canada. The point system in Canada is very popular and is used by credit card companies such as TD credit card, RBC credit card and many more. It is also used by retailers …show more content…
In order to get those initial points customers have to sign up with Autowallet from the stalls that they would set up in malls and downtown area. Various services can be redeemed depending on a number of points customer has collected. The point’s system redemption would work as 100 points worth $1 and thus, initial points would be 1000 points worth $10. Every $2 purchase would collect 1 point in the point’s bank of the user. The point’s bank would be linked to the user’s bank account number to avoid