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.
Trader Joe’s to Accept Apple Pay
Kiosks at Trader Joe’s checkout counters across the U.S. have been seeing upgrades in recent weeks and months to VeriFone touchscreen machines. Some of these payment terminals already advertise that they accept Apple Pay, as seen above at a store in Raleigh, spotted by AppleInsider.Not all stores have yet enabled support for Apple Pay, even if the new VeriFone terminals are installed. For example, a trip Friday afternoon to the Trader Joe’s in Brooklyn revealed that Apple Pay is not yet being accepted, and a check-out clerk mentioned that support is forthcoming at an unknown date. [Read more…]