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.
Some Starbucks Mobile App Customers Hacked
Credit card hackers are targeting Starbucks gift card and mobile payment users around the country – and stealing from consumers’ credit cards — with a new scam so ingenious they don’t even need to know the account number of the card they are hacking.Criminals are using Starbucks accounts to access consumers’ linked credit cards. Taking advantage of the Starbucks auto-reload function, they can steal hundreds of dollars in a matter of minutes.
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