16SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Mobile payments technology allows customers to make online and point-of-sale purchases, pay bills, and send or receive money from their smartphones via the Web browser, an app, or a text message.1 Mobile payments use has become widespread: Forty-six percent of U.S. consumers report having made a mobile payment, which translates to approximately 114 million adults.2 Expansion in the use of mobile payments over time has corresponded with an increase in smartphone ownership. In 2011, 44 percent of cellphones were smartphones.3 By 2015, the share had increased to 76 percent.This chartbook presents findings from a nationally representative telephone survey that examined consumers’ opinions, experiences, and expectations of mobile payments. The survey followed focus groups that Pew previously convened as a first step in understanding consumers’ views on the potential benefits and risks of mobile payments. Specifically, this chartbook reports statistics on consumers’ awareness and perceptions of mobile payments technology, their usage and motives for use, and any barriers to usage. The key findings are:Mobile payments users—consumers who have made an online or point of-sale purchase, paid a bill, or sent or received money using a Web browser, text message, or app on a smartphone—are more likely than nonusers to be millennials or Generation Xers, live in metropolitan areas, and have bank accounts and college or postgraduate degrees. Of these demographic categories, age is the most predictive of mobile payments use, particularly as it relates to smartphone ownership. (See the appendix for the demographics of mobile payments users and nonusers.) continue reading »
The housing sector is expected to be a big beneficiary of better lending conditions. Picture: Jodie Richter.“Based on these considerations, a “no-change” decision seems a certainty from the RBA Board meeting on Tuesday. Indeed the market has only a 4 per cent chance of a change priced in.”For the first time since last month’s cut, Monday saw the RBA Rate Indicator swing in favour of a cash rate target decrease to 0.75 per cent. “As at 5 August, the ASX 30 Day Interbank Cash Rate Futures August 2019 contract was trading at 99.115, indicating a 57 per cent expectation of an interest rate decrease to 0.75 per cent at the next RBA Board meeting.”That might not be enough though — with 96 per cent of experts and economists in the latest Finder RBA Cash Rate Survey convinced there RBA will hold at 1 per cent for several months. 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This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58 Where tenants are ditching dead money for a mortgage Queensland is expected to see a surge in interest from interstate and other buyers given its relative affordability compared to southern neighbours, including Brisbane over Sydney and Melbourne.After a torrid two months of slashing, the Reserve Bank board is expected to hold fire until November on any further interest rate cuts — but there’s still lots to celebrate for buyers.Experts agree that November is the month the RBA board is most likely to make its next move on rates, as it waits for its shock two cuts in a row to take hold along with government action to boost consumer spending. FOLLOW SOPHIE FOSTER ON FACEBOOK Star puppet Agro making a move More from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoRBA assumptions and forecasts. Source: RBA.gov.au”Our view remains that the RBA will deliver another 25bpt rate cut but they will wait until November to deliver that cut,” he said in CBA’s latest Economic Update. “The RBA has, of course, revealed its hand with 25bpt rate cuts in June and July. Successive rate cuts are rare events and normally reserved for dire economic circumstances. But circumstances, as the RBA assures us, are not dire. The RBA has indicated that it is prepared to wait while monitoring developments, especially in the labour market. MORE: The growth suburbs to watch It found 35 per cent of experts believed the next cut would come in November, while 23 per cent thought it would be earlier in October.Either way, Finder insight manager Graham Cooke said the RBA board would be hesitant to cut three months in a row.“The jury’s out on the impact of these most recent cuts — it’s simply too soon to tell,” he said. “Economists feel slightly more confident that recent cuts will have a positive effect on the economy once given time to roll out. While positivity is generally still low, housing affordability remains the most positive economic element.”Mr Blythe said CBA could “only agree” with a comment by RBA Governor Philip Lowe that “it is reasonable to expect an extended period of low interest rates”. Reserve Bank of Australia Governor, Philip Lowe, is expected to see the board hold at 1 per cent cash rate target come Tuesday afternoon. Picture: AAP Image/Dean Lewins.This after the RBA finally moved its cash rate target down to 1.25 per cent in June, followed rapidly by another 0.25 percentage point drop again in July to even out at 1 per cent. Before that it had stagnated at 1.5 per cent since August 2016.Aligned with APRA loosening its grip on lending conditions, boosting the chances of those applying for mortgages, the moves were expected to see some lift in the economy.Chief economist for one of the nation’s Big Four banks, Commonwealth Bank of Australia, Michael Blythe, expected the cash rate to remain at 1 per cent come Tuesday afternoon’s RBA monetary policy meeting.
Senior cornerback and co-captain Josh Shaw has been suspended from all football activities indefinitely after he admitted about lying about the nature of the ankle injuries he sustained on Saturday night.Shaw shanks redemption – Senior cornerback Josh Shaw (6) had four interceptions for the Trojans last season and was recently named a team captain. News of his suspension comes three days before the Trojans are set to face Fresno State.On Sunday, USC Athletics released a statement saying that Shaw was out indefinitely after suffering two high ankle sprains because he leapt from a balcony at a family function in order to save his nephew who was drowning in the pool.Monday morning at practice, head coach Steve Sarkisian disclosed that USC had received inquiries questioning the validity of the story and that he would look into it.Still, coaches and players reaffirmed their faith in Shaw’s character, stating that he had always demonstrated good character both on and off the field.But on Wednesday afternoon, Shaw came to USC’s athletic department and admitted to fabricating the entire story about rescuing his nephew.“We are extremely disappointed in Josh,” Sarkisian told USCTrojans.com. “He let us all down. As I have said, nothing in his background led us to doubt him when he told us of his injuries, nor did anything after our initial vetting of his story.“I appreciate that Josh has now admitted that he lied and has apologized. Although this type of behavior is out of character for Josh, it is unacceptable. Honesty and integrity must be at the center of our program. I believe Josh will learn from this. I hope that he will not be defined by this incident, and that the Trojan Family will accept his apology and support him.”Shaw issued the following statement via his lawyer, Donald Etra: “On Saturday August 23, 2014, I injured myself in a fall. I made up a story about this fall that was untrue. I was wrong to not tell the truth. I apologize to USC for this action on my part. My USC coaches, the USC Athletic Department, and especially coach Sarkisian have all been supportive of me during my college career and for that, I am very grateful.”USC’s athletic department also issued an apology for running the original story.