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.
DeviceFidelity’s In2Pay Announced as Visa’s First Official Contactless Payment Solution – and It’s MicroSD
Photo from DeviceFidelity
Following in the buzz from the recent Isis initiative announcement, Visa has announced the availability of mobile contactless payments enabled by DeviceFidelity’s In2Pay microSD solution.
In2Pay is the first mobile contactless payment solution included in the list of Visa compliant products available for potential commercial deployment by financial institutions in the U.S. and select markets. There are approximately 5 billion mobile handsets in market around the globe, and according to IDC3, smart phone shipments globally are expected to increase 24% in 2011, helping drive continued growth in more robust and powerful mobile devices that are capable of supporting contactless payment. [Read more…]
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