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.
VeriFone Raises Outlook on Mobile Payment Hopes
VeriFone Systems Inc. posted better-than-expected quarterly results and raised its full-year outlook as it ropes in more customers for mobile payment technologies. The credit card swipe machine maker is betting on strong demand for near field communication (NFC) technology that allows people to pay for their purchases by waving an NFC-enabled mobile phone.
Read more via International Business Times.