More than Half of Consumers Pay Bills on Mobile Devices: Survey


Mobile banking is about more than just checking account balances.

More than half of consumers worldwide use their mobile devices to pay a bill, according to SAP's survey of more than 12,000 adults who own a basic mobile device or smartphone. SAP, a financial technology vendor, published the survey Wednesday.

The survey, which drew data from 17 countries including the U.S., also found that 52 percent of consumers make a bank transfer and 48 percent set up new accounts on mobile devices.

"Through our research, and the work we have done with leading global banks, we see the consumer appetite for mobile banking - and the range of services that can be provided via mobile devices - increasing as customers are keen to embrace more complex banking activity," said Eric Stine, general manager of financial services for SAP America, in a press release.

Convenience is the likely draw of the channel: 61 percent of those polled said it would not be easy to get to a bank branch on a daily basis.

The report also identified areas of weakness that banks should improve to drive mobile usage. Those polled cited the following reservations about the channel: 46 percentidentified the hassle of entering a lot of personal information, while 45 percentcited safety concerns and 43 percentworried about internet access at the point of purchase/transaction.

The research was conducted in April and May by Loudhouse Consultancy, an independent research agency based in London.




'The Law Penalizes the Consumers It Set Out to Protect': Comments of the Week

American Banker readers share their views on the most pressing banking topics of the week. As excerpted from the Comments sections of articles.

(Image: Fotolia)

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

The FinTech 100

FIS and Tata once again top the annual FinTech 100 list of vendors, ranked by revenue; IBM and Hewlett-Packard lead the pack of tech companies serving multiple industries; and Bionym and Silver Tail are among the 10 Tech Companies to Watch.

A Newsletter featuring Bank Technology News' top stories plus special reports and data

This feature displays payments industry news and analysis from American Banker sibling brand PaymentsSource. Registration is required; for more information contact customer service.

Already a subscriber? Log in here
Please note you must now log in with your email address and password.