One American in three uses mobile banking
One in three US adults now uses mobile banking in their day to day lives– a rise of almost 100% since 2011, according to new research from the US Pew Research Centre.
The Pew figures show that 32% of US adults and 35% of mobile phone owners bank using their mobile phones. That compares against 18% of mobile phone owners who had used their phone for banking in 2011.
Usage was most closely correlated with youth and education. While 54% of those aged 18-29 and 40% of those aged 30-49 used mobile banking, only 14% of those over 65 used the technology. Likewise, 41% of those who continued their education to college or university level used mobile banking, while the figure for those with no high school diploma was just 27%.
There was no difference between men and women (both 35%), while ethnic background also seemed to play a role in the figures, with the Pew Research Centre reporting non-white people (41%) were more likely to use the technology than white (32%).
The research also tracked the continuing growth of online banking, with some of the biggest increases seen amongst the young. While 55% of 18-29 year-olds said they banked online in 2010, the figure had reached 66% by 2013.
Recent months have seen a spate of new mobile banking offerings around the world. Earlier this month, New Jersey-based Kearny Federal Savings Bank chose mobile payments technology from specialist firm Fiserv, which it says will help the bank increase efficiency and attract new customers.
Meanwhile earlier the same month, Azerbaijan card processing company AzeriCard partnered with software firm OpenWay to create a mobile wallet that helps Azerbaijanis to withdraw cash from ATMs using a mobile phone and transfer money without using a bank card. In France, French railway operator SNFC recentlyinstalled a new system that allows customers to pay for travel on high-speed train using their mobiles.
In May, Spanish banks La Caixa and Santander partnered with telecoms firm Telefónica to create a joint venture offering mobile payment services and a digital wallet designed to gather all their credit cards into one place; users will also be able to send and receive funds via their mobile phone. Bank account details will not be necessary; all the sender needs is the recipient’s phone number.