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.
Payroll startup Salarium Partners with Mobile Payment Firm PyxPay
Salarium, a cloud-based payroll solutions provider, has partnered with PyxPay, a mobile payment company, to create Salpay, a mobile and web-based payment system. software that can carry out human resource functions such as time and attendance, payroll processing, expense management, employee database management, government-due computations and employee self service applications for loans, leaves and overtimes. The integration of Salarium’s comprehensive software to PyxPay’s core mobile, web and prepaid platform will be released as “Salpay” in the mobile application marketplace.
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