Nine million U.S. mobile-phone subscribers say they used their mobile devices to pay for goods or services in the first quarter ended March 31, according to a report by the Nielsen Co. Nielsen surveys 30,000 wireless subscribers monthly. Some 6.5 million consumers used text messaging to make purchases as of the end of April, according to the report. About 5 million used mobile shopping and auction sites in April, up 72.4% from 2.9 million in April 2007, the report says. "As more mobile-commerce services become available and consumers develop a greater trust for phone-based transactions, we expect commerce to be an increasingly important part of the mobile experience next year and beyond," Nic Covey, director of insights at Nielsen Mobile, told attendees Thursday at the Internet Retailer Conference and Exhibition in Chicago. Security remains the primary concern among mobile-phone users who do not participate in mobile commerce, the study says. "U.S. consumers need proof that mobile transactions will be a safe, affordable and efficient complement to other modes of shopping," Covey says.
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The Charlotte, North Carolina-based bank stopped originating marine and recreational vehicle loans during the second quarter. Executives said the change will reduce net interest income in the short term, but deliver higher profitability over the long run.
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The customer-sourced investment will continue to support the digital banking provider's AI and digital loan origination initiatives.
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A coalition of 20 state attorneys general, most of them Democrats, is opposing efforts by the high-cost lenders Enova International and Opportunity Finance to acquire banks. The state AGs warn that the companies are trying to dodge state interest-rate caps.
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FINRA's annual snapshot shows how the wealth industry is changing, from key business metrics and marketing trends to shifts in registration and a shrinking branch footprint.
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