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.
Moneto
moneto is a prepaid mobile wallet application that enables consumers’ phones to make mobile payments with Near Field Communication (NFC) technology. With moneto, consumers can pay for purchases at more than 120,000 NFC enabled merchant locations nationwide and globally. moneto is based on In2Pay® technology developed by DeviceFidelity, Inc.
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