Tycoons are shunning banks and
wealth managers, preferring to put a flood of money from selling
stakes in companies into property and new ventures rather than
trust industries whose reputations have been battered by the
global financial crisis.
A paper by the Federal Reserve Bank of Boston finds that the ultimate broad adoption of mobile payments will be largely correlated with the security of each mobile platform; and that consumer education and stakeholder collaboration will be equally crucial to promoting widespread adoption.