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 percent identified the hassle of entering a lot of personal information, while 45 percent cited safety concerns and 43 percent worried 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.