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.
PayByMobile Company Profile
PaybyMobile is a text-to-pay mobile payment service for online purchases.
Customers load funds into the mobile wallet. Funds can be loaded where mobile top-up is sold–online, in store and at the ATM. (Users must request PayByMobile top-up, as it is not connected to the mobile phone bill).
When shopping online at select websites, customers select the payByMobile option at checkout.
No further input is required as a payment code, unique to the customer’s shopping basket is published at the online checkout. To pay, customer then texts that code to payByMobile on 51525.
PayByMobile Limited is registered in UK company no. 05775144 and in Ireland, branch no. 905993
HQ: The Digital Depot, Thomas Street, Dublin 8, Ireland.
More information: PayByMobile