Capital One plans to take advantage of two major marketing initiatives its support of Apple Pay and sponsorship of the Orange Bowl to give its bank-branded mobile wallet a boost.
The ad seems like any other bank's ad for Apple Pay, ending with the narrator saying, "and when you have the Capital One Wallet app, you can keep track of all your purchases."
Apple Pay provides access to cards through the Apple Passbook app, and chooses the first card enrolled as the default payment option. To stand out, bankers say they must provide an app that compels consumers to choose that issuer's card over any others for mobile payments.
"This mobile wallet was interesting before, but now [that Apple Pay has launched] I view it as a requirement," Jon Groch, executive vice president and global payment system director at BBVA Compass, said in a presentation at SourceMedia's PayThink conference in October. "If we didn't have this mobile wallet customers wouldn't even know what wallet they're using when they use Apple Pay."
Capital One will air its new ad on ESPN when Georgia Tech takes on Mississippi State in the Capital One Orange Bowl on New Year's Eve in Miami. Afterwards, the bank plans to air the commercial starting Jan. 5 across major television networks, cable entertainment and sports outlets, online video and mobile iAds.