Almost 200 million mobile users will be making bill payments via their mobile by 2017. According to research by Juniper Research, there is an increasing user acceptance and comfort with using push mobile banking and a sharp rise in tablet use for banking purposes.
The report also predicted that the adoption of mobile bill and payment banking by tablet users will be even higher than mobile handset usage.
A spokesperson added, “With online payments accounting for a significant proportion of all bill payments, especially in developed markets, transactions will migrate from the desktop towards tablet devices. Consumers often prefer managing bill payments and transactions via tablet devices compared to smartphones.”
The trend is something that is reflected worldwide as consumer’s knowledge, trust and experience with mobile devices grows and they utilise the convenience and speed of mobile banking. “The statistics are both exciting and enlightening – 200 million users expected in just four years. This highlights the investments being made by manufacturing and retailers a like, in a bid for consumers to be able to make payments simply through their smartphone.”
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.