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.
Amazon Exploring NFC Payment Service for Brick and Mortar Stores
Amazon.com Inc. is considering the introduction of a service that would let consumers pay for goods in brick-and-mortar stores using their mobile phones, according to two people with knowledge of the project.
The company’s Amazon Payments unit is exploring whether to start a service based on so-called near-field-communication technology, said the people, who asked not to be named because the project isn’t public.
via Businessweek.