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.
Tagattitude’s TagPay Mobile Payment Model Based on Encrypted Audio Signals (NSDT)
While Near Field Communication (NFC) is getting a lot of press lately with the announcement of the Isis partnerships, there are other technologies for mobile payment that don’t require either a specific terminal, nor complex agreements among the various parties.
An example is TagPay, a mobile payment solution developed by a French startup called Tagattitude. The product is based on the NSDT technology (Near Sound Data Transfer), which is simpler to implement than NFC-based systems. The can be used in a variety of applications, such as mobile point-of-sale payment, money transfer, web authentication, or control and authorization of physical access.
More information: Tagattitude
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