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.
Full Society Restaurant Mobile Payment App Launches IndieGoGo Funding Campaign
Up-and-coming tech startup Full Society has launched an IndieGoGo campaign to fund the final stages of development for its mobile payments app. The app’s primary purpose is for customers to pay their bill via mobile phone. However, once completed, the app also allows restaurant goers to donate to select charities.
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