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.
China Telecom Offers 3G Mobile Payments in Bejing
China Telecom’s Beijing branch has published a report, stating that it will open a mobile phone payment function for its eSurfing 3G users.With this new function, users can inquiry about their bank card balances, pay mobile phone fees, pay credit card bills, and transfer money between bank cards with their mobile phones. They can go to China Telecom Beijing’s appointed business halls to open this service.
Read more, via ChinaTechNews.com.