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2015 in Credit Card Apps, Payments and Rewards


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With awards season wrapped up, we at Corporate Insight would like to highlight some of the more expansive changes Credit Card Monitor firms have made to improve their customer service and desktop site and mobile app designs. We prepared this slide deck to give an overview of 2015; while many changes and redesigns were not universal, they do mark shifts in the focus to improve the customer experience and raise the bar across the industry.
A few general highlights include:
1. Firms incorporated responsive elements into redesigns, placing increased attention on a seamless experience across desktop and mobile platforms.

2. Payments services remain ripe for firm innovation and branding – while many have adopted the Apple, Android and Samsung Pay trifecta, some are also exploring in-house offerings. Additionally, some firms are competing with the Visa Checkout and MasterCard Pay Pass online payments services with their own branding.

3. Several firms updated their rewards programs, adding unique options and expanding redemptions to mobile apps and partnerships to pay at retailers.
We present this slide deck as both a commendation and survey of the progress over the course of 2015 – and we look forward to much more throughout 2016.To keep track of all recent industry developments, read our biweekly Credit Card Monitor Updates.

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2015 in Credit Card Apps, Payments and Rewards

  2. 2. ABOUT CORPORATE INSIGHT Connect With Us Corporate Insight provides competitive intelligence and user experience research to the nation’s leading financial institutions. For more than 20 years, the firm has tracked technological developments in the financial services industry, identifying best practices in online banking and investing, online insurance, mobile finance, active trading platforms, social media and other emerging areas. There are no assumptions in Corporate Insight’s work – we use live accounts at all of the firms we research, providing our clients with unparalleled, unbiased intelligence on the competition. JAVONNI JUDD Senior Research Associate (646) 454-2661 MEDIA INQUIRIES Joshua Grandy, PR Manager (646) 876-7524 Press Coverage
  3. 3. INTRODUCTION AND TABLE OF CONTENTS  Industry Innovations  New and Noteworthy Sites  Late Additions and 2015 in Promotions  Contact Us 3 INTRODUCTION/TABLEOFCONTENTS
  5. 5. MOBILE PAYMENTS SERVICESINDUSTRYINNOVATIONS Fall of 2015 saw the launch of Android Pay and Samsung Pay by eight and six of the 11 Credit Card Monitor firms, respectively. U.S. Bank and Chase both created digital wallet microsites to organize all compatible digital payment technology pages together. Chase Digital Payments Overview and U.S. Bank Mobile Purchasing Microsite
  6. 6. MOBILE APP REDESIGNSINDUSTRYINNOVATIONS In 2015 Chase, Capital One, Citi and Bank of America joined American Express and Discover to offer Touch ID authentication with iOS mobile apps. Bank of America, Citi and Capital One released Apple Watch apps. In April, Wells Fargo added Spanish to its mobile app and redesigned its Android app in the Fall of 2015. From Top: USAA Biometrics Overview, Capital One App for Apple Watch and Wells Fargo Mobile App U.S. Bank and USAA both introduced biometric login features, adding extra security. USAA card holders can now log in using Touch ID, Facial Recognition and Voice Recognition.
  7. 7. AMEX’S EXPRESS CHECKOUT, CHASE PAY AND FREEDOM REWARDS MOBILE APP INDUSTRYINNOVATIONS Both services offer clients a fast and secure way to shop online by pre-filling card and personal information, bypassing storing information on retailer sites. Chase’s Freedom mobile app allows users to redeem points for gift cards, pay merchants and send money using QuickPay. Chase Pay Chase Freedom App Amex Express Checkout
  9. 9. HOMEPAGE REDESIGNS – AMEX, B OF A AND CITICARDSNEWANDNOTEWORTHYSITES Expandable menus and account transactions merged with homepage Citicards overhauled its private homepage, merging account summary, transactions, rewards and offers into one page. Bank of America and AmEx also redesigned their homepages with quick menus of recent activity and rewards balances.
  10. 10. BARCLAY’S PUBLIC SITE (DECEMBER 2015) 10 New Comparison Tool Barclaycard’s responsive public site presents cards with rich imagery, adding filter and comparison tools. While the site has room for improvement, it represents significant progress for the public site, which previously lagged far behind industry standards. NEWANDNOTEWORTHYSITES Filter Menu Barclay’s Public Site Comparison Tool and Filter Menu
  11. 11. CAPITAL ONE REDESIGNS PUBLIC SITE, ACCOUNT SERVICESNEWANDNOTEWORTHYSITES Capital One Redeem Rewards The updated public site includes secondary navigation separating personal and with an embedded Sign In section on the homepage. The firm now allows users to close their accounts online – the first firm in our group to offer this feature. Capital One also migrated its rewards center to the private site My Rewards center. Redesigned Public Homepage Close Your Account Feature
  12. 12. DISCOVER IMPROVES ACCOUNT SERVICES 12 NEWANDNOTEWORTHYSITES Discover stood out last year for redesigning and adding unique features. New payment options, transaction customization, instant freeze and relaunching its card offers program demonstrated a strategic focus on the card holder’s experience across servicing needs. Freeze It, Transaction Tags, Discover Deals and Pay with Cashback Bonus (Left to Right)
  13. 13. WELLS FARGO ADDS UNIQUE REWARDS REDEMPTIONSNEWANDNOTEWORTHYSITES Wells Fargo updated its private Rewards Center with a vertical responsively designed layout along with unique redemption options. The firm is the only issuer allowing users to redeem points for a cash transfer to someone else’s Wells Fargo bank account. Wells Fargo is one of three banks allowing users to share their points with other users. Gift Rewards to Others Pool Rewards with Others
  15. 15. LATE (BUT GREAT!) ADDITIONSLATEADDITIONS Discover finally announced Apple Pay compatibility in September, the last of the Credit Card Monitor coverage group to do so. American Express joins five other firms in the Credit Card Monitor coverage group to offer all of its card holders access to their credit scores.
  16. 16. THE YEAR IN PROMOTIONSPROMOTIONSANDOFFERS Throughout the year, firms used social media to promote sweepstakes and general account offerings. From Left: Bank of America Mobile Deposits, Discover Refer a Friend, Chase Mobile App and PNC Apple Pay
  17. 17. CORPORATE INSIGHT THOUGHT LEADERSHIP Responsive Design in the Retirement and Insurance Industries In this slide deck, we examine how firms in the retirement and insurance industries have responded to growing consumer demand by introducing new and redesigned websites. The slide deck focuses on responsive websites developed in 2014 and predictions for website redesign in 2015 and beyond. Online Communities Across Financial Services: American Express, Bank of America and TIAA-CREF This slide deck examines the design and capabilities offered by each firm’s online community, with a focus on noteworthy site features. We also provide tips for financial services firms looking to improve their online communities. The Complete Bitcoin User Experience: Mining, Exchanges, Wallets and Beyond This study provides a detailed analysis of how Bitcoins are created, traded and stored. The study includes reviews of the top websites and online services driving the Bitcoin marketplace including Slush’s Pool, and Coinbase, among others. 2014 Mobile Finance Trends and Innovations This study draws on our ongoing tracking of the industry, as well as relevant developments outside of the financial services space. The study includes commentary on mobile developments, key takeaways for financial services firms and thoughts on what is next for mobile finance. Senior Citizens & Mobile Finance: Design & Support Solutions to Empower the Senior Set Using CI’s user-testing expertise and ongoing mobile finance research, this slide deck highlights specific areas where seniors may struggle with financial services apps, and offers design and support solutions that will give this valuable audience the comfort and confidence to engage in mobile finance. CORPORATEINSIGHTTHOUGHTLEADERSHIP
  18. 18. ABOUT THE AUTHORSABOUTTHEAUTHOR Contact Javonni Judd: (646) 454-2661 Connect with Javonni Connect with CI Javonni Judd Senior Research Associate Bank Monitor and Credit Card Monitor Javonni Judd is a Senior Research Associate for Corporate Insight’s Bank Monitor and Credit Card Monitor research services. Meredith Barthold Research Associate Bank Monitor and Credit Card Monitor Meredith Barthold is a Research Associate for Corporate Insight’s Bank Monitor and Credit Card Monitor research services. Contact Meredith Barthold: (646) 929-5151 Connect with Meredith