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.
London to be First City in Europe with Complete NFC Mobile Payment System
London will be the first city in Europe to have a mass market, NFC-based, mobile payments system, according to Pablo Montesano, Telefonica’s Director of Mobile Financial Services.
Montesano said that the 2012 Olympics would push the introduction of the technology into the London market, making it the first mass market deployment outside of Japan and Korea.
via Mobile Europe – London to lead way in NFC mobile payments.