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.
Mobile payments startup Clinkle nabs $25M in early investments | Internet & Media – CNET News
Young entrepreneur Lucas Duplan said his startup, Clinkle, has figured out a way for people to pay for things in a physical store without using cash or credit card. And, it doesn’t require a mobile card reader, the hardware popularized by payments company Square.
“No one has really cracked the nut,” Duplan said, adding that none of the apps currently available can really help people leave their physical wallets behind. He leaves the door open for other benefits, like how to use consumer’s shopping habit data to create other features.
“Our product is fundamentally a wallet that is on your phone,” he said. “Not only is it more convenient, digitally, there’s so many more things that you can do in terms of paper and plastic.”
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