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.
PayPal to Acquire Mobile-Wallet Startup Paydiant
EBay Inc.’s PayPal, the digital-payments unit being spun off from the Internet marketplace later this year, agreed to buy startup Paydiant Inc. to broaden its mobile offerings for merchants.
Paydiant, founded in 2010 and based near Boston, helps retailers such as Subway and Harris Teeter Supermarkets Inc. develop mobile-payment options and customer-loyalty programs in their own applications. Terms of the deal weren’t disclosed. The transaction is expected to close this month or next, PayPal said in a statement Monday.
Read more, via Bloomberg Business.