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.
Report Says ISIS to Invest $100M to Challenge Google Wallet
With summer days dwindling, Google (NASDAQ:GOOG) has less than two weeks to make good on its pledge to launch its Google Wallet mobile payment service.
Google Wallet is a mobile application service that will let owners of Sprint’s Samsung Nexus S 4G smartphones use their phone as a wallet at some 20 retailers and restaurants.
Bloomberg said the carrier group, which unveiled its own tap-and-pay effort in July, plans to invest $100 million to build out its mobile payment plans to challenge Wallet.
Read more, via eWeek.com.