Smartphone Adoption Fuels Popularity of Mobile Banking Services

7:00 am on December 2, 2008 | Category: Cell Phones, Mobile Devices, Web Services

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About 7.2% of mobile phone users (who are aged 18+ and employed) currently use mobile banking services, according to a recent web-based survey of 20,000 consumers and business decision makers.

“The growth in smart phone adoption is expected to be a leading factor in the future adoption of mobile banking,” commented Stephanie Atkinson, a managing partner of Compass Intelligence, the firm which conducted the survey.

With an impressive 20.5% mobile banking penetration rate among smartphone users (compared to just 2.7% of users with basic handsets), it is clear that the more comfortable consumers become with advanced mobile devices, the more they will seek out advanced services like wireless finance.

Other findings of the Compass survey include the fact that younger users (aged 18-24) are more likely to use mobile banking, as are frequent travelers, and enterprise-level users.

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    Published by TeleClick Enterprises
    Edited by Jeremy Maddock