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.
Jack Dorsey’s Square Mobile Payments Company Raises $27.5 Million in New Funding
Twitter co-founder Jack Dorsey’s mobile payments startup, called Square, is in the process of raising a new round of funding at a valuation of more than $200 million, according to TechCrunch. The online technology blog cites Square’s general manager Keith Rabois as indicating that Square raised $27.5 million in new funding, with Sequoia Capital leading the round.
TechCrunch says they’ve heard that sources familiar with the matter say Square’s valuation in the round was approximately $240 million.
via TechCrunch
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