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.
Samsung Pay Will be Huge Driver for Mobile Payment Adoption
According to a report by Business Insider, Samsung Pay will spur the growth of mobile payments because the company’s recent acquisition of LoopPay makes the new Samsung Pay service compatible with the existing base of payment terminals in the United States. [Read more…]
Oberthur (OT) Partners with Samsung for EU Mobile Payments
Oberthur Technologies (OT), a provider of digital security solutions for the mobility space, today announced its partnership with Samsung Electronics for the deployment of Samsung Pay in Europe later this year. [Read more…]