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.
Payfone and Mobile Accord Partner for Mobile Donation Channel
Payfone, a leading mobile payment processing service, and Mobile Accord, an innovator and leader in mobile technology for nonprofit organizations, today announced a strategic partnership to expand the mobile donation channel for nonprofits and non-governmental entities worldwide. Through the partnership, nonprofits will be able to expand the power and reach of mobile donation offerings through alternative payment options allowing donations in real-time from any device, such as PC, smartphone, tablet or Wi-Fi, via Mobile Accord’s mobile giving platform, mGive.
“As the premier provider of mobile giving, it is absolutely critical we offer the nonprofit community a secure technology platform that ensures real-time delivery of safe, secure donations with accurate reporting and visibility into all transactions,” said Nim Patel, CEO of Mobile Accord. “Our goal is to offer donors across the globe the ability to make charitable donations from any device at any time. Through our partnership with Payfone, we are able to continue delivering on that promise.”
Mobile Accord’s mGive platform empowers individuals and entire countries to facilitate change using its revolutionary scalable services including mobile giving. mGive has been the standard for mobile giving since 2008, resulting in over 7,000 nonprofit mobile campaigns worldwide and is the platform of choice for high-volume campaigns like fundraising for relief efforts in Haiti and Japan, raising over $46 million in donations. Mobile Accord continues to work with nonprofit and nongovernmental organizations to enhance mobile fundraising and engagement for social good.
“Through Mobile Accord and mGive, its state-of-the-art mobile giving technology platform that is specifically targeted to support nonprofits, we can offer nonprofits one of the most robust and secure methods of conducting donations from any device – an industry first,” said Rodger Desai, chief executive officer, Payfone. “We are pleased to be working with the leader in mobile giving, and look forward to delivering an entirely new method of mobile donation that offers greater ease, flexibility and security, while opening up the global opportunities around philanthropic giving.”
Payfone is unique in leveraging the existing assets of mobile operators for directly connected payment authorization and processing. This approach distinguishes Payfone from other competitors. Payfone’s unique IP focuses on delivering the best user experience, while closely managing fraud using new factors of authentication that are inherent in the mobile operator networks. This translates into one of the most secure and frictionless user experience, across any device. Payfone’s ability to directly integrate with the operator’s network and intelligently identify a subscriber’s profile, makes it the only company capable of securely streamlining the entire mobile payments process.