Consumers and Mobile Financial Services 2015 – Free Report

Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.

Latest News

Retailers Remain Skeptical of Apple Pay

In a January earnings call with investors, Apple Inc Chief Executive Tim Cook made a confident prediction: “2015 will be the year of Apple Pay,” he said. Since then, the company has aggressively courted retailers – and claimed significant success. “We’ve spoken to all of the top 100 merchants in the U.S., and about half will accept Apple Pay this year, with many more the following year,” a company spokesperson recently told Reuters.

Android Pay to Work with MasterCard

Today, Google unveiled Android Pay, which will enable MasterCard credit, debit, prepaid and small business cardholders to use their Android phones for everyday purchases in-store and within Android apps.

Android Pay Coming… to Eat Apple’s Lunch?

A number of signs point toward Google unveiling a broad new mobile payments platform called Android Pay at its I/O developer conference Thursday in San Francisco. The platform is likely to integrate tightly with Google’s Android mobile operating system, and may exceed the functionality of its chief rival, Apple Pay, in some ways.

Research Reports

Global Mobile Payments to Reach 50 Billion Transactions in 2015

The mobile payment market worldwide continued rapid growth in 2014, according to a new report by Hamburg based secondary research company yStats.com. The publication, “Global Mobile Payment Methods” discloses that while competition in the mobile payments field has intensified worldwide, acceptance and usage of in-store mobile payments and the preferences of shoppers towards payment methods in remote M-Commerce differed from country to country. A general trend is the lingering concern of consumers towards security of mobile payment transactions.

Mobile Proximity Payments Forecast 2015

A recent report by Mary Monahan, Javelin Strategies’ Executive Vice President and Research Director, Mobile, analyzes the U.S. mobile proximity payment market, covering payments made by consumers using a mobile device at a merchant’s physical location. Three years of actual historical data and a five-year forecast are provided. By 2019, it is projected that mobile proximity payments will total $54 billion.

Boston Fedearl Reserve

Report: Industry Perspectives on Mobile/Digital Wallets and Channel Convergence

The Federal Reserve Banks of Boston has released a report based on the recent Mobile Payments Industry Workgroup (MPIW) meeting to discuss (1) different wallet platforms; (2) how card networks and other payment service providers manage risks associated with converging digital and mobile channels; and (3) merchant strategies around building a mobile payment and shopping experience.

Company Profiles

Ingenico Mobile Solutions

Ingenico Mobile Solutions provides secure, enterprise-level mobile Point of Sale solutions to more than 100,000 merchants worldwide.


LevelUp is an American mobile payments platform created by Boston, Massachusetts-based start-up SCVNGR. The LevelUp mobile application uses QR code technology to allow for mobile transactions to be made at local businesses via iPhone, Android and Windows phones.


MyCheck is a technology platform that enhances the merchant and user experience in hospitality via POS integrations. MyCheck allows restaurant groups and chains to own their own customized and branded mobile experience, either inside an existing app or in a new app that the company will develop for the brand. The platform is modular, so the operator chooses which functionalities to incorporate – pay-at-table, pay-at-counter, loyalty, CRM outreach, order ahead, delivery, etc. It integrates with more than 27 POS systems.


Kuapay is a payment service provider that combines digital wallet and mobile payments. The company is based in Santa Monica, California with offices in New York City, Santiago, Chile, and Madrid, Spain.