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.
Hottest Mobile Payment Startups
Here’s a preliminary list of the hottest mobile payment startups. Feel free to add to the conversation:
Carrier Billing
Purchase in App (not billed via carrier)
- Apple (iTunes)
Contactless / Mobile Contactless:
P2P Transfer
- Obopay
- PayPal Mobile
- Venmo
Mobile Checkout
- Square
- Verifone
China
- UMPay
- SmartPay
- LianLian
India
- Paymate
Philippines
- Globe GCASH
Japan
- Mobile Suica
- Edy
Reference: GusFundler