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.
At Harvard, Mobibucks Presents the Success in the MENA Region
MENA Managing Director Ziad Alshobaki (Middle) of Mobibucks FZ LLC at MPD Payments Innovation Institute (Photo: Business Wire)
Mobibucks, selected as one of the most promising innovators in payments, showcased its next-generation mobile payments, marketing and rewards solutions. “Mobi™” is a first-of-its kind payment product for making purchases using a mobile phone number. It provides customers with a patent-pending, cashless, card-less, paperless and phone-less payment solution that targets the everyday purchases made by consumers. The company also showcased its recent mobile payments service launch at Abu Dhabi Commercial Bank (ADCB) in Abu Dhabi, UAE. ADCB is the first bank to offer this unique mobile payment service.
The two days of “innovation immersion” was led by faculty members from renowned business schools as well as the leaders of some of the most innovative companies in the payments industry. Ziad Alshobaki, who presented the success story between Mobibucks and ADCB, was the only participant from the Middle East.
The MPD Payments Innovation Institute (PII) is designed to help people in the payments industry find the next great idea; drive adoption for new products and services to attain critical mass and ignition; and turn great ideas into great businesses that are viable and profitable.
Source: Business Wire
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