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.
HDFC Bank to Introduce Mobile Banking in Andhra Pradesh
HDFC bank has introduced mobile banking services in Andhra Pradesh, in south-eastern India. Approximately 26% of HDFC Bank’s customers visit branches and the rest depend on ATMs, the internet and mobiles for their banking needs. HDFC has 450 to 500 ATMs in AP and up to 20% of customers use internet banking.
via Voice & Data.