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.
TIO Networks Launches PG&E Mobile Bill Payment App
TIO Networks has launched the Pacific Gas and Electric Company’s (PG&E) “mobile bill pay app”. This mobile payment app is an industry first by a major Utility and provides up to six million PG&E customers in Northern and Central California with the convenience of paying their utility bills on an expedited basis through their iPhones and iOS devices.
“Almost immediately from the pre-launch phase in late December 2010, we have had strong consumer interest as several thousand PG&E customers have already downloaded the App and are paying their bills” said Hamed Shahbazi, Chairman and CEO of TIO Networks. “We will be expanding the payment platform to include Android and Blackberry versions in the near future. This product was a collaborative effort with PG&E and we appreciate their strong commitment to the project.”
Millions of PG&E customers can now download the TIO mobile application from Apple’s app store for free, and enjoy the convenience of bill payment on the go, anytime and anywhere. The TIO payment application features a user-friendly interface on iOS powered devices for real-time access to a customer’s account balance and intuitive instructions, in either English or Spanish, for fast payment with Visa, Master Card or through a customer’s bank.
Source: Business Wire