Federal Reserve Archives

Mobile payments trends are seeing growth held back by biometrics

06/14/201606/11/2016 Jennifer Goula

The technology to scan various body parts such as eyes and fingerprints may be too challenging to keep up. While it had looked as though mobile payments trends might have the potential to take off with rapid growth as more consumers look to their smartphones to replace their use of credit and debit cards, adoption has essentially flat-lined. This, despite the fact that industry giants such as Samsung and Apple have leapt into the market. Even with the best efforts of some of the largest tech giants in the world,…

Security is playing a larger role in the growth of mobile payments

10/29/201510/28/2015 Stephen Vagus

Federal Reserve report shows that mobile commerce is on the rise Mobile payments are finding more support in the United States, but security is still a primary concern for consumers and merchants alike. The Federal Reserve has released a new report that highlights this issue, as well as the growth of mobile commerce support throughout the country. For many consumers, security has been a major hurdle that has barred their participation in mobile commerce. This is a concern held by retailers, as well, with many companies being targeted by cyber…