Report

Consumers and Mobile Financial Services 2013

Abstract: Mobile devices have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. In December 2011, the Federal Reserve Board conducted its first survey of consumers’ use of mobile financial services, and released a summary report in March 2012 (referred to as the 2011 survey). Given the rapid pace of developments in the area of mobile finance, the Board conducted a second survey in late November 2012 to examine trends in adoption and use of mobile banking and payments (referred to as the 2012 survey). This report presents findings from the 2012 online survey, which examined consumers’ use of mobile technology to access financial services and make financial decisions. The findings from the current survey are also compared with the findings from the previous survey. This report looks at how consumers use their mobile phones to access their bank’s services, make payments, and inform their shopping decisions.

Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: Reports and Studies

Publication Date: 2013-03