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.
Jumio Announces Star-Studded Advisory Board
Jumio, the payment solution dubbed as one of the “hottest start-ups of 2011” and currently in the final stages of development, today announced part of its high profile advisory board. The board reads like a Who’s Who of Internet pioneers.
“We are extremely pleased that our ideas and technology attract such talent. It shows me that we are right on track with our approach to make online and mobile payments easier and more secure,” says Daniel Mattes, founder and CEO of Jumio Inc.
Mattes invited — amongst others — Internet pioneers Zain Khan (former Google executive), Mark Britto (former Amazon executive) and Maarten Linthorst (former NASA partner).
Zain Khan, a former Google executive known as the “Ops guy,” built Google’s impressive infrastructure from scratch in 1999. Zain, now turned private investor, says about Jumio: “It’s mainly the technological brilliance and the complexity that lies in this payment solution that excites a tech-person like me. Add a proven team and the product is bound to be successful.”
Board member of Bill Me Later (acquired by eBay) and founder of Accept.com (acquired by Amazon), Mark Britto was responsible for building the main payment infrastructure for Amazon. He sees Jumio as the solution to one of the few remaining Internet problems: “The challenge of fully securing online payments has been an ongoing one. Jumio is perfectly prepared to solve the problem.”
Working with NASA back in 1969, Maarten Linthorst paved the way for the Internet as we know it, interconnecting the first two servers to become the ARPANET. He also developed the X25 protocol, which is used for every credit card transaction worldwide. Linthorst believes that “Jumio will revolutionize the way we think about online payment — both from a technological and a social point of view.”
A former CEO of one of the largest online gambling groups worldwide, Bjorn Evers sees “Jumio as a definite game changer and the answer to online payment fraud.”
Jumio’s mission is to make payments simpler, faster, more convenient and — above all — more secure. “$191 billion is the annual cost caused by credit card fraud in the United States, and it’s time to act,” says Mattes. “With our advisory board of brilliant minds, we are well-prepared.”
Source: MarketWire