Federal Reserve survey provides information on mobile financial services

[kreslik.news]

Mobile banking use continued to rise last year as smartphone adoption grew and consumers were increasingly drawn to the convenience of mobile financial services, according to a Federal Reserve Board report, Consumers and Mobile Financial Services 2016, released on Wednesday.

The report documents consumers' use of mobile phones--Internet-enabled smartphones as well as more basic phones with limited features--as they bank and carry out financial activities. It is the Board's fifth annual look at how consumers use mobile phones to access banking services ("mobile banking"), make payments, transfer money, or pay for goods and services ("mobile payments"), and inform financial decisions, ... (read more)