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.
NXP Lowers Outlook for NFC as Mobile-Payment Growth Slows
NXP Semiconductor NV, Europe’s third-largest chipmaker, lowered its outlook for near-field communication chip shipments in 2011 as mobile-phone operators expand wireless payment systems more slowly than expected. NXP, based in Eindhoven, Netherlands, now sees NFC deliveries at the lower end or “perhaps even slightly below” an initially predicted range of 40 million to 100 million units, Chief Executive Officer Richard Clemmer said on an analyst conference call late yesterday.
Read more, via Bloomberg.