Tesco changes mobile payment app name, promises new features

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Tesco is changing its payment app's name change to Tesco Pay+, a move that portends more features as part of a broader digital wallet upgrade.

The name change, from the current PayQwig, will go into effect later this month and will continue to be available for shoppers to use at Tesco stores across the U.K. The chain operates out of Edinburgh and Glasgow, Scotland, and its stores are Tesco Express, Tesco Metro, Tesco Extra, Tesco Superstores and Tesco filling stations.

The bank launched the PayQwiq digital wallet in 2015 and made the mobile app available earlier this year to link a mobile wallet to Tesco shoppers' Clubcard to earn points each time it was used. The digital wallet is able to hold multiple payment cards.
"The journey of our digital wallet has been an exciting one and we've learned a great deal about our customers and how they shop," Mark Loch, Tesco digital wallets and group payments strategy director, said in a press release. "We believe Tesco Pay+ is going to help that customer journey, and we're looking forward to revealing more about it in a few weeks."

Tesco Pay+ is available for both Android and iOS smartphones and provides shopping within a single transaction limit of £250 ($326 U.S.), an amount Tesco says will ensure that customers will use the app for more than just weekly grocery shopping.

Tesco indirectly set the stage for advancing its mobile payment app two months ago, upgrading its 17 million Tesco Clubcards to assure its loyalty program operated with contactless technology.

At that time, the contactless loyalty cards seemed to be a good fit for those customers who were not ready to pay or collect rewards points through a mobile app on a smartphone. However, getting customers used to contactless technology with a card could translate to an easier switch to Tesco Pay+.

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Mobile wallets Digital payments Banking Retailers