Consumers and Mobile Financial Services March 2015

by PaymentsJournal 0

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. The survey 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.

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