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.
Survey Finds Growing Opportunity for Mobile Payments at Restaurants
Harbortouch, a national supplier of point of sale (POS) systems, published the results of a recent survey investigating the changing attitudes consumers have toward mobile payments technology. The results of the survey of 1,000 U.S. adults, fielded in April 2015, examined the current state of mobile payment adoption, and demonstrated a shift in consumers’ comfort level and acceptance, with a greater focus on interface and experience. [Read more…]