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.
How to Take Your Small Business Mobile
2010 is the year of the mobile smartphone, and all the useful app’s that go with them.
Back in March, 2010, Laura Kolodny wrote in the New York Times, “Web sites are old school, and mobile is a growing requirement for every industry and business.” iPhone sales have been off the charts, and this week Google’s Andy Rubin wrote that there are 300,000 Android phone activations each day–yes every day!
In July, Shop.org, the National Retail Federation’s digital division, found that “nearly three-quarters (74%) of online retailers either already have or are developing a mobile strategy. One in five boasts having a fully-implemented mobile strategy in place already.”
Taking your small business mobile could be as easy as creating a simple iPhone app, but more often than not, with competition in the mobile space heating up, it’s likely to be a bit more complicated than that.
Raam Thakrar has outlined the process in an excellent article in Mobile Commerce Daily. Here are some of the key tasks:
- Finding a developer
- Designing your app
- Choosing your features
- Analytics
- Payment Methods
- Testing
Read the complete article: Mobile Commerce Daily.