March 25, 2017
The way we’ve paid for things for decades is changing, and much of this change is happening because of mobile phones. Apps and new technology allow us to perform transactions at the cash register and to send money to friends and family. And we are taking advantage: The Federal Reserve in 2014 surveyed consumers and found that 22% of mobile phone owners reported having made a mobile payment in the previous year, an increase from 15% in 2012.
Add the overhaul underway to our credit cards, and it really is becoming a new world for payments. Here’s what you need to know.