Hole in the eWallet:
How Mobile Payment Apps
Engage & Retain Users
Optimize Customer Experiences at Scale

About the Speakers
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Helping marketing, product and growth teams at B2C companies Optimize Customer Experiences at Scale
We enable this at scale, in real-time and with precision by providing a unique combination of:
● a unified user data platform
● actionable insights and segmentation
● timely, personalized omni-channel engagement
About CleverTap
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Proven Performance & Scale
CleverTap Architecture solves for a variety of use cases without any assumption of domain
8,000+
Customers Globally
1 Billion
Devices Reached
25 Million
Campaigns Sent Per Month
$2 Billion
Incremental Revenue Delivered
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Agenda
• Disruption in Payments = Rise of Mobile Payment Apps
• The Mobile Payment Ecosystem
• User Behavior Patterns
• Building an Engagement Strategy for Your
Mobile Payment App
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Fintech and mobile payment startups are
winning share from banks, scaling at an
incredible pace
Merchants are seeking out
better ways to accept and
streamline payments.
Consumer behaviors are
changing
Rapid consolidation
and globalization
Mobile payment apps will act
as the missing link for banks
and payment services to
leapfrog from legacy systems
to real time payments
Disruption Fueled by Mobile Payments

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The Global Market for Mobile Payments
is Showing Incredible Growth Y-o-Y
Sources: Zion Research, Accenture, Mobile Ecosystem Forum (MEF)

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Sources: Zion Research, Accenture, Mobile Ecosystem Forum (MEF)
And yet..
Few apps see
sustained growth
77%
Users Churn in
the first two weeks
35%
users choose to
uninstall these apps
within a month

The Key…
Is to focus on the consumer micro-moments
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SOCIAL SHARING
REFERRALS
POSTING REVIEWS
TRANSACTING
ADDING MONEY
SPENDING VIA
MOBILE WALLETS
RESEARCH
IDENTIFY MERCHANTS
CASHBACKS &
OFFERS
DISCOVERY
LOOKING FOR OPTIONS
INSPIRATION

The App User Lifecycle
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Onboarding Engagement Retention Reininstall

A great user onboarding experience can
improve user adoption by
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Delivering The AHA! Moment
7X
Onboarding

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User Onboarding Benchmarks
• Greet users with a welcome message upon
first app launch.
• Nudge users to register via an in-app
message that focuses on the benefits and
cashback offers available to the registered
users
• Offer a brief product tour that covers the
most popular features, as well as the
merchant partners listed on the app.

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To turn new users into loyalists
and brand advocates
Show Immediate Value
in Your Product
Onboarding > Engagement

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From Onboarding to Engagement Benchmarks
• Nudge users to add money to their digital
wallet by promoting relevant offers.
• Prompt users to opt-in for push notifications
to increase reachability.
• Send campaigns with special offers on utility
bill payments to increase the number of
repeat transactions.

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To Get a Larger Share of Their Wallet
Keeping Users Engaged
Engagement

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User Engagement Benchmarks
• Nudge users to continue an abandoned
transaction to increase revenue.
• Use in-app notifications with special offers for
adding money to the digital wallet.
• Encourage repeat transactions by promoting
offers for service providers and merchants on
the app. Use optimal time of engagement with
features like CleverTap’s best campaign send
times.

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Identify the early indicators of
churn to drive long term user retention
Drop In, Before
Your Users Drop Off
Engagement > Retention

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Engagement to Retention Benchmarks
• Drop offs while adding money to the digital wallet
and cart abandonment can be early indicators of
user churn
• Engage users with timely, personalized messages
that prompt them to relaunch the app
• Nudge users to add money to their digital wallet.
• Remind them to pay their bills before their due
date

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Engagement to Retention Benchmarks

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Omnichannel engagement campaigns
nurture your brand’s relationship with
customers and drive higher lifetime value
Keep Users Coming Back
to the App for More
Retention

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Retention Benchmarks
• Motivate users to make repeat transactions by promoting
cashback offers on adding higher amounts to their digital
wallet
• Use cohort analysis to track retention rates for various user
segments: new users, current users, users acquired via paid
ads, etc.
• Use CleverTap Journeys, an omnichannel campaign tool, to
target users at the most optimal channel with personalized
promotions, bill payment reminders, and cashback offers to
improve conversions and retention

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Reasons for uninstall can vary from UI/UX issues,
functionality, performance, or engagement
experience.
Tackling Churn
Reininstall

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Reinstall Benchmarks
• Eliminate friction points within your app by
tracking user behavior using path analysis tools
such as CleverTap’s Flows
• Request user feedback to understand the
reasons for uninstalls
• Win back users with time-sensitive, targeted
promotional offers
• Establish a sunset policy to avoid spamming
users who do not wish to be contacted

SO LUTI O NSABO UT
MobiKwik is one of India’s largest and fastest-growing
mobile payment networks, connecting over 65 million
users with more than 2.5 million retailers. Over 25
payments are processed per second, and 100+ new
users sign up every minute.
Case Study:
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• Engagement at Scale
• Message Failure
• Improve Retention Rate
CHALLENGES
Case Study:
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SO LUTI O NS
• Personalized & Triggered Messaging
• Retention Cohorts
• Onboarding Campaigns
• Reactivation Campaigns
Case Study:
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KEY RESULTS
Case Study:
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Reduced uninstall rates by 20% with
timely, conversion-specific campaigns.
Won back 23-25% of their uninstalled
users with reactivation campaigns.
20% 2x
Increased user engagement by 2x with
campaigns triggered by user behavior.
Segmented users into groups for highly
personalized marketing campaigns.

Report: Industry Benchmarks for Mobile Payment Apps
Click Here
Case Study: How Mobile Wallet MobiKwik used CleverTap to Reduce
Uninstalls by 20%.
Click Here
Case Study: Beblue Sees 96% Jump in New Active Users with Advanced
Segmentation.
Click Here
Live demo: Get a customized 30-minute demo from our team
Click Here
Questions?
Additional Resources:
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Thank You!
webinars@clevertap.com