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.
Tyfone, Inc.
Tyfone provides a turnkey infrastructure software on the phone, middleware platform, and a memory card based token for the secure element/contactless payments/NFC.
The company’s product combines e a smart card chip secure element, an NFC chip, and a miniature antenna provisioned to a memory card that works in any standard memory card slot. This solution enables device independence in an issuer-centric model allowing the issuer to control both the channel and customer. Tyfone connects money and mobility in a secure, scalable and flexible mobile financial services platform that is tailored to meet the evolving needs of organizations and their customers.
Founded in 2004, Tyfone’s corporate headquarters are in Portland, Oregon, and its Asia-Pacific headquarters in Bangalore, India. The company has manufacturing relationships in Taiwan and component partners in Israel, Germany, and Singapore.
The company is venture backed by Ojas Venture Partners, an early stage technology focused Venture Capital firm based in India.
The management team is comprised of leaders from the financial services and technology industries. Tyfone’s vision is to enable Device and Carrier Independence for mobile financial services to the world’s leading organizations.
More information: Tyfone, Inc.