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.
Race is On to Build Mobile Wallet App to Corner the M-Payments Market
The battle to transform the way Canadians pay at the checkout counter is gearing up to be a long slog with countless twists and turns.
While the country’s biggest banks, telcos and credit card companies are sprinting out of the gate, each with different approaches on creating the mobile wallet, the race is more likely to evolve into a marathon with very high stakes.
Read more, via The Globe and Mail.