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.
ViVOtech
ViVOtech is a leading end-to-end enabler of next-generation NFC mobile payments, loyalty and marketing solutions—including mobile wallet, patented Over-The-Air (OTA) provisioning, Trusted Service Manager infrastructure, NFC touch point (smart poster) management, and loyalty/coupon management software; and contactless NFC payment acceptance terminals.
ViVOtech’s software solution not only works with emerging NFC-enabled smartphones, but also with multiple existing mobile handset models including BlackBerry, iPhone, Android, and Nokia with add-on NFC accessories.
ViVOtech products are used by retailers, banks, processors, and mobile network operators all over the globe; the company has shipped more than 780,000 contactless NFC terminals to more than 35 countries.
In 2009, ViVOtech received the Frost and Sullivan North American Smart Cards Product Line Strategy of the Year Award. In 2010, ViVOtech received the 2010 Mobility Award for its NFC mobile ViVOwallet software, Smart Card Alliance Award “Outstanding Smart Card Achievement” (OSCA) Award for Innovation in Payments Technology and the Contactless Intelligence “Monkey” Awards for Competitive Advantage through Technology used by Citi Tap and Pay NFC Pilot.
ViVOtech’s investors include Citi, First Data Corporation, Motorola Ventures, NCR and Nokia Growth Partners.
More information: ViVOtech.