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.
Danske Bank Partners with Powa Technologies for International Mobile Shopping
Danske Bank has partnered up with British company Powa Technologies to bring Mobile Pay users instant access to its mobile commerce platform PowaTag. The ambition of the company is to offer consumers all over the world easy access to mobile shopping with a variety of triggers. Until now, the company has signed agreements with more than 1,200 brands and chains, such as Best Western, OVS, Miinto and PWT Group.